________ is a real-life example of a price floor.
A) A minimum wage law
B) Rent control
C) A price gouging law
D) A black market price
E) A ration price

Question

Quizplus · Accepted Answer

A minimum wage law sets a floor under the wages that employers can pay to their employees. This means that employers are not allowed to pay their employees less than the minimum wage, creating a price floor in the labor market.

________ Is a Real-Life Example of a Price Floor