Asked by
Kendyl Tillie
on Nov 17, 2024
Verified
Which of the following is correct?
A) Rent control and the minimum wage are both examples of price ceilings.
B) Rent control is an example of a price ceiling, and the minimum wage is an example of a price floor.
C) Rent control is an example of a price floor, and the minimum wage is an example of a price ceiling.
D) Rent control and the minimum wage are both examples of price floors.
Price Ceiling
A government-imposed limit on the price charged for a product, aimed at preventing prices from rising above a certain level.
- Analyze the effects of government policies on markets, including price ceilings and floors.
Verified Answer
LT
Learning Objectives
- Analyze the effects of government policies on markets, including price ceilings and floors.