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Give an example of a price floor and a price ceiling and the purpose of the controls?
an example of a price floor is the minimum wage
What has the author Dick Fidler written?
Dick Fidler has written: 'Wage controls' -- subject- s -: New Democratic Party, Wage-price policy
Which example best demonstrates the effect of artificial price controls on supply and demand?
Rent controls result in shortages and minimum wage laws result in surpluses
What MOST clearly illustrates President Eisenhower's support for encouraging private enterprise?
lifting wage and price controls in 1953
There were many labor strikes after world war 2 as workers tried to win wage increases and?
and preserve price controls
What has the author K Holden written?
K. Holden has written: 'Introductory mathematics for economics and business' 'The economics of wage controls' -- subject(s): Wage-price policy 'Co-integration'
Who controls the minimum wage?
min wage is controled by congrass.
Which act granted the president of the US the authority to impose wage and price controls in times of national necessity?
Economic Stabilization Act
What most accurately explains the intended effect of wage controls on the cost of goods and services?
Wage controls attempt to stop inflation
Who controls the price of gasoline?
the government controls the price of gasoline
Is minimum wage a price floor?
A minimum wage could be considered a price floor because it sets a wage floor on the price of labour. Since labour is an important factor of production, and price reflects the cost of production, then higher wages correspond to higher prices if there are no productivity gains.
What has the author J C Weldon written?
J. C. Weldon has written: 'A critique of the tax-based incomes policy proposed by Sidney Weintraub' -- subject(s): Wage-price policy 'Wage controls and the Canadian labour movement' -- subject(s): Inflation (Finance), Mathematical models, Wage-price policy 'The attack on the democratic left' -- subject(s): Economic conditions, Socialism
