Which of the Following Is an Example of a Price

question 55

Multiple Choice

Which of the following is an example of a price floor?

• A) A minimum wage law.
• B) An equilibrium price.
• C) A law setting the highest price that can legally be charged for a litre of petrol.
• D) A law passed in a city to lower apartment rents by setting the maximum price that can be charged for rent.
• E) None of the above answers gives an example of a price floor.

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Definitions:

Parapsychology

The study of paranormal and psychic phenomena, including telepathy, precognition, and extrasensory perception.

Sensation

The way in which our sense organs and nervous system perceive and depict the energy of stimuli around us.

Perception

The process by which individuals organize and interpret their sensory impressions in order to give meaning to their environment.

Clairvoyance

The supposed ability to gain information about an object, person, location, or physical event through means other than the known human senses, considered a form of extrasensory perception.