Asked by
fakendiana lamonier
on Oct 13, 2024
Verified
Gas lines were the result of
A) price ceilings.
B) price floors.
C) overproduction.
Gas Lines
Queues of vehicles waiting to fuel up, sometimes seen during periods of fuel shortages.
Price Ceilings
Government-imposed limits on how high a price can be charged for a product, service, or commodity, usually intended to protect consumers.
Price Floors
A minimum price set by the government for certain goods and services to ensure that they cannot be sold for a lower price, aimed at protecting producers.
- Examine the results of price constraints, including price ceilings and floors, on the presence of surplus or shortage in markets.
- Understand how price ceilings affect housing markets and the supply of housing.
Verified Answer
BR
Learning Objectives
- Examine the results of price constraints, including price ceilings and floors, on the presence of surplus or shortage in markets.
- Understand how price ceilings affect housing markets and the supply of housing.