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Which would be an example of a government price ceiling?
Select one:
a. subsidies for apartment rent in major cities
b. limits on interest rates charged by credit card companies
c. minimum-wage laws for unskilled workers
d. price supports for agricultural products

Respuesta :

Answer:

The correct answer is letter "B": limits on interest rates charged by credit card companies.

Explanation:

A Price Ceiling is a maximum amount a seller can charge for a product or service. A regulating authority -usually the local government- enforces price ceilings and they are typically set to protect low-income consumers for being priced-out of markets of essential goods and services.  

Apartments provide a common example. Some cities provide price ceilings on what the landlords can charge for rent. A price ceiling in credit card interest rates would all into this category as well.

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