Which of the following is not an example of a price ceiling?
A) The Chinese government sets the price of housing in China below equilibrium.
B) The government of the former Soviet Union set prices on food below those prevailing in the free market.
C) In the 1970s,the Nixon administration imposed wage and price controls,thereby keeping wages and prices from rising.
D) In the late 1970s,the U.S.government required gasoline to be sold at a price per gallon that was below what would have prevailed in a free market.
E) The U.S.government requires that sugar be sold at a price that exceeds the world price of sugar.
Correct Answer:
Verified
Q62: The table given below reports the quantity
Q67: The table given below reports the quantity
Q71: The figure given below shows the demand
Q75: The table given below reports the quantity
Q76: In the market for eggs,a removal of
Q76: According to the law of demand, if
Q81: A price control always benefits consumers.
Q83: A sharp increase in gasoline prices will
Q85: A supply curve slopes downward because of
Q91: Assume that the supply curve for tomatoes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents