Econ 001 - Principles of Economics » Fall 2021 » Quiz on Lesson 11
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Question #1
A government price "floor"
A.
sets a legal minimum on the Price at which a good can be sold.
B.
sets a legal maximum on the Price at which a good can be sold.
C.
is always equal to the equilibrium price.
D.
You Answered
Question #2
Minimum Wage Laws are an example of a government "price ceiling."
A.
FALSE
B.
TRUE
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