Author Question: The minimum price for a good set by the government above the equilibrium price is called a: a. ... (Read 58 times)

nummyann · **on:** Jun 30, 2018

The minimum price for a good set by the government above the equilibrium price is called a:
a. price ceiling.
b. price floor.
c. parity price ratio.
d. market-generated price.
e. deficiency price.

Question 2

Price floors are instituted because the government wants to:
a. help consumers.
b. help producers.
c. raise tax revenue.
d. prevent imports.
e. increase demand.