Multiple Choice
An example of a price floor is
A) the regulation of gasoline prices in the U.S.in the 1970s.
B) rent control.
C) the minimum wage.
D) any restriction on price that leads to a shortage.
Correct Answer:

Verified
Correct Answer:
Verified
Q194: A shortage results when a<br>A)nonbinding price ceiling
Q195: Figure 6-13<br>This figure shows the market demand
Q196: Figure 6-6 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 6-6
Q197: The minimum wage is an example of
Q198: Figure 6-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 6-7
Q200: The U.S.Congress first instituted a minimum wage
Q201: Figure 6-17<br>This figure shows the market demand
Q202: Figure 6-1<br><img src="https://d2lvgg3v3hfg70.cloudfront.net/TB2297/.jpg" alt="Figure 6-1
Q203: A price floor is binding when it
Q204: There are several criticisms of the minimum