Which of the following is a price floor?
A) rent controls
B) minimum wage rates
C) a freeze on upward-moving gasoline prices
D) college tuition caps
Answer: B
Economics
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Teenagers are usually the demographic group with the highest unemployment rates
a. True b. False Indicate whether the statement is true or false
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An extreme case where either the quantity demanded (Qd) or supplied (Qs) changes by an infinite amount in response to any change in price is called:
a. perfect elasticity. b. imperfect elasticity. c. strong elasticity. d. weak elasticity.
Economics