Principles of Macroeconomics 7th Edition

Published by South-Western College
ISBN 10: 1-28516-591-8
ISBN 13: 978-1-28516-591-2

Chapter 6 - Supply, Demand, and Government Policies - Questions For Review - Page 129: 1

Answer

A classic example of price ceiling is the rent control in New York City. The most common for price floor is the minimum wage.

Work Step by Step

This questions simply asks you to identify examples of price floors and wages. The two mentioned above are the most well-known.
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