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.
Homework Answers
Request Answer!
We need at least 10 more requests to produce the answer.
0 / 10 have requested this problem solution
The more requests, the faster the answer.
Add Answer to:
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? O A. a law setting...
Which of the following is an example of a price floor? O A. a law setting the highest price that can legally be charged for a gallon of gasoline OB. an equilibrium price O c. a law passed in a city to lower apartment rents by setting the maximum price that can be charged for rent OD. a minimum wage law O E. None of the above answers give examples of a price floor.
An economist looks at rent controlled prices as an example of a price ceiling O equilibrium....
An economist looks at rent controlled prices as an example of a price ceiling O equilibrium. price floor @ engaged price. QUESTION 7 The "work effort argument" criticizing traditional economic analyses of the minimum wage implies increased real GDP should result from any increase in the nominal minimum wage. o reduced real GDP should result from any increase in the nominal minimum wage. any increase in the nominal minimum wage reduces short-run aggregate supply increased real GDP should result from...
Paragraph Styles True or false 1- Minimum wage is a good example of a price floor....
Paragraph Styles True or false 1- Minimum wage is a good example of a price floor. 2- Domestic producers typically benefit when their government decrease tariff 3- Minimum wage laws typically result in a shortage 4 GATT was created during the Clinton ad. 5- A corrective tax is good example of command control policy. Multiple choice A non-binding price floor can be seen on graph as a: a. Vertica line to the left of the equilibrium b. Horizontal line below...
Suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon.
The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon. Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. The government prohibits gas stations from selling gasoline for more than $3.40 per gallon. There are many teenagers who would like to work at gas stations, but they are not hired due...
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. The language of price controls Suppose that, in a competitive market without government regulations, the...
1. The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon. Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. Price Control Binding or Not Statement Due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited...
Rent control is an example of a price A. floor; in cities with rent control prices...
Rent control is an example of a price A. floor; in cities with rent control prices are used to ration housing. B. floor; in cities with rent control mechanisms other than price are used to ration housing. C. ceiling; in cities with rent control mechanisms other than price are used to ration housing. D. ceiling; in cities with rent control prices are used to ration housing.
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...
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...
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...
Which of the following is an example of a price floor? O A. a law setting the highest price that can legally be charged for a gallon of gasoline OB. an equilibrium price O c. a law passed in a city to lower apartment rents by setting the maximum price that can be charged for rent OD. a minimum wage law O E. None of the above answers give examples of a price floor.
An economist looks at rent controlled prices as an example of a price ceiling O equilibrium. price floor @ engaged price. QUESTION 7 The "work effort argument" criticizing traditional economic analyses of the minimum wage implies increased real GDP should result from any increase in the nominal minimum wage. o reduced real GDP should result from any increase in the nominal minimum wage. any increase in the nominal minimum wage reduces short-run aggregate supply increased real GDP should result from...
Paragraph Styles True or false 1- Minimum wage is a good example of a price floor. 2- Domestic producers typically benefit when their government decrease tariff 3- Minimum wage laws typically result in a shortage 4 GATT was created during the Clinton ad. 5- A corrective tax is good example of command control policy. Multiple choice A non-binding price floor can be seen on graph as a: a. Vertica line to the left of the equilibrium b. Horizontal line below...
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. The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of gasoline is $3.00 per gallon. Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. Price Control Binding or Not Statement Due to new regulations, gas stations that would like to pay better wages in order to hire more workers are prohibited...
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...
Most questions answered within 3 hours.
-
The tires of a car make 61 revolutions as the car reduces its
speed uniformly from...
asked 8 minutes ago -
Peabody, Inc., sells fireworks. The company’s marketing director
developed the following cost of goods sold budget...
asked 13 minutes ago -
A signal transduction pathway includes the steps listed
below.
1. An inactive signal transduction molecule is...
asked 12 minutes ago -
1. The correlation coefficient determined for two variables has
a value of 0.89. Describe, in words,...
asked 18 minutes ago -
The following data relate to direct materials costs for
November:
Actual costs
4,700 pounds at $5.35...
asked 16 minutes ago -
Kyle, a 95.0 kg football player, leaps straight up into the air
(with no horizontal velocity)...
asked 40 minutes ago -
Which of the following is a measure of profitability?
A.
Quick (acid-test) ratio
B.
Net sales...
asked 43 minutes ago -
Find the total pressure exerted by 2 grams of ethane and 3 grams
of CO2 contained...
asked 44 minutes ago -
A fireman standing on a 5.2 m high ladder operates a water hose
with a round...
asked 40 minutes ago -
A cream formulation is studied for accelerated stability study.
Creaming was observed when formulation was tested...
asked 43 minutes ago -
A 1,150 lumen light bulb is placed 37 cm in front of a mirrored
wall, whose...
asked 54 minutes ago -
Given that z is a standard normal random variable, compute the
following probabilities (to 4 decimals)....
asked 1 hour ago