In general, governments tend to set ________ for a minimum wage, and __________ for rent control....
-
In general, governments tend to set ________ for a minimum wage, and __________ for rent control.
Price ceilings; Price floors.
Price floors; Price ceilings.
Price floors; Price floors.
Price ceilings, Price ceilings.
Homework Answers
Ans. Correct Option is Price Floors and Price Cielings
Price floor implemented by the govt . for the minimum wages , to prevent the price to be low and its mostly used by the govt. for the agricultural sector.
Price ceiling are their to protect consumers and to keep the prices low.
-----------------------------------------------------------------------------------------
Add Answer to:
In general, governments tend to set ________ for a minimum wage,
and __________ for rent control....
1. How is rent control an example of a price ceiling? 2. What predictable effects result...
1. How is rent control an example of a price ceiling? 2. What predictable effects result from price ceilings such as rent control 3. How is the minimum-wage law an example of a price floor? 4. What predictable effects result from price floors such as the minimum wage? 5. What may happen to the amount of discrimination against groups such as families with children, pet owners, smokers, or students when rent control is imposed? 6. Why does rent control often...
Reflect of price controls and pick either rent control or minimum wage to analyze. Describe an...
Reflect of price controls and pick either rent control or minimum wage to analyze. Describe an example of when the price control may be helpful to a participant in the market (either consumer or producer). Describe an example of when a price control will hurt a consumer. Describe an example of when the same price control will hurt a producer. That is, who does price controls hurt and help? Your answer should take approximately 1 page and draw from the...
Recall this information from the text: “Price ceilings prevent a price from rising above a certain...
Recall this information from the text: “Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, the quantity demanded will exceed quantity supplied, and excess demand or shortages will result. Price floors prevent a price from falling below a certain level. When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result. Price floors and price ceilings...
1. When will a minimum wage be an effective price control? When it is a... A....
1. When will a minimum wage be an effective price control? When it is a... A. Maximum "price" that is above the equilibrium price B. Maximum "price" that is below the equilibrium price C. Minimum "price that is above equilibrium price 2. Many major U.S. cities have adopted rent controls for some housing. An effective rent control is what kind of price control? A. A price ceiling with a maximum price above equilibrium price. B. A price floor with a...
Minimum wage is an example of a price Minimum wage is an example of a price...
Minimum wage is an example of a
price
Minimum wage is an example of a price floor > if binding it will cause an) supply which is when [Choose ] > is greater than < [Choose] Rent control is an example of a price ceiling if binding it will cause a(n) demand > which is when [Choose ] > is greater than < [Choose]
Price controls such as price floors and price ceilings tend to make markets more efficient. True...
Price controls such as price floors and price ceilings tend to make markets more efficient. True False
Instructions The textbook describes in Chapter 3 price controls, which includes price ceilings and price floors....
Instructions The textbook describes in Chapter 3 price controls, which includes price ceilings and price floors. For this assignment, select an example of an effective price ceiling or price floor, you can choose the examples provided in the textbook like rent control, agricultural supports, minimum wage or from other sources. In this 1-2 page paper, analyze what happens when a price ceiling or price floor is enacted. Who benefits and who loses from enacting the price control? Why would the...
(1) A rise in the minimum wage will tend to __________ the demand for labor and...
(1) A rise in the minimum wage will tend to __________ the demand for labor and ___________ the supply of labor. decrease; increase increase; decrease decrease; decrease increase; increase (2) Over the past 25 years in the United States, the annual inflation rate has averaged approximately ______. 10% 3% 15% 6% (3) People are most likely to revert to bartering in periods of stagflation. deflation. recession. hyperinflation. (4) A recession that...
Labor Supply Wage Rate Price control 1 $19.00 $14.00 $9.00 Price control 2 Labor Demand 160...
Labor Supply Wage Rate Price control 1 $19.00 $14.00 $9.00 Price control 2 Labor Demand 160 300 520 Quantity of Labor a. What is the equilibrium wage rate and quantity of workers? b. If the minimum wage was set at $19 what would be the wage rate and number of workers hired? c. What shortage or surplus, if any would exist? Be specific. d. If the minimum wage was set at $9 what would be the wage rate and number...
which of the following is an example of a price floor? a. rent controls b. restricting...
which of the following is an example of a price floor? a. rent controls b. restricting gasoline prices to $1.00 per gallon when the equilibrium price is $1.50 per gallon. c. the minimum wage d. all of the above are price floors. e. none of the above are price floors.
1. How is rent control an example of a price ceiling? 2. What predictable effects result from price ceilings such as rent control 3. How is the minimum-wage law an example of a price floor? 4. What predictable effects result from price floors such as the minimum wage? 5. What may happen to the amount of discrimination against groups such as families with children, pet owners, smokers, or students when rent control is imposed? 6. Why does rent control often...
Minimum wage is an example of a
price
Minimum wage is an example of a price floor > if binding it will cause an) supply which is when [Choose ] > is greater than < [Choose] Rent control is an example of a price ceiling if binding it will cause a(n) demand > which is when [Choose ] > is greater than < [Choose]
Price controls such as price floors and price ceilings tend to make markets more efficient. True False
Instructions The textbook describes in Chapter 3 price controls, which includes price ceilings and price floors. For this assignment, select an example of an effective price ceiling or price floor, you can choose the examples provided in the textbook like rent control, agricultural supports, minimum wage or from other sources. In this 1-2 page paper, analyze what happens when a price ceiling or price floor is enacted. Who benefits and who loses from enacting the price control? Why would the...
Labor Supply Wage Rate Price control 1 $19.00 $14.00 $9.00 Price control 2 Labor Demand 160 300 520 Quantity of Labor a. What is the equilibrium wage rate and quantity of workers? b. If the minimum wage was set at $19 what would be the wage rate and number of workers hired? c. What shortage or surplus, if any would exist? Be specific. d. If the minimum wage was set at $9 what would be the wage rate and number...
Most questions answered within 3 hours.
-
Which of the following statements is true regarding the nature
of culture?
A.We are born with...
asked 13 minutes ago -
(a) 2
NO2(g) à 2
NO(g) +
O2(g)
The rate law for this reaction
is 2nd...
asked 16 minutes ago -
Write the overall reaction for the RedOx
reaction (below) when it occurs in an acidic environment....
asked 22 minutes ago -
Two forces are acting on an object. Force 1 on the object is 6.0
N and...
asked 23 minutes ago -
You are planning for retirement. You plan to work for 20 years.
Starting a year from...
asked 37 minutes ago -
The African Adventures exhibit water system holds approximately
850,000 gallons (3.2x109 g) of water. The temperature...
asked 28 minutes ago -
which of the following is capital?
the barn a farmer uses to hold the chickens he...
asked 38 minutes ago -
Attribute
Sample Value
Sample Value
Sample Value
Sample Value
pirate_num
11
22
43
54
pirate_lname
James...
asked 32 minutes ago -
10. Two forces act on a 3 kg object, the gravitational force and
a second, constant...
asked 49 minutes ago -
Dividing Partnership Net Loss
Leigh Meadows and Byron Leef formed a partnership in which the
partnership...
asked 45 minutes ago -
Discuss how Entrepreneurial leadership style differs
from traditional leadership?
asked 1 hour ago -
A futuristic design for a car is to have a large solid
disk-shaped flywheel within the...
asked 1 hour ago