11th Grade Government Intervention Quizzes, Questions & Answers

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Quiz On Microeconomics: Supply, Demand, And Government Policies

Explore the impact of government interventions on market equilibrium in this Microeconomics quiz. Assess your understanding of supply, demand, price ceilings, and floors, and the effects of minimum wage adjustments. Ideal for...

Questions: 34 | Attempts: 1512 | Last updated: Oct 22, 2025

Sample Question 1
If the equilibrium price of gasoline is $1.00 per gallon and the government places a price ceiling on gasoline of $1.50 per gallon, the result will be a shortage of gasoline

True

False

Sample Question 2
A price ceiling set below the equilibrium price causes a surplus

True

False

Sample Question 3
A price floor set above the equilibrium price is a binding constraint

True

False