A Price Floor Is

question 178

Multiple Choice

A price floor is

• A)a legal minimum on the price at which a good can be sold.
• B)often imposed when sellers of a good are successful in their attempts to convince the government that the market outcome is unfair without a price floor.
• C)a source of inefficiency in a market.
• D)All of the above are correct.

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Definitions:

Eminent Domain

The right of a government or its agent to expropriate private property for public use, with payment of compensation.

Alien and Sedition Acts

A series of laws passed in 1798 that restricted the activities of foreign residents in the United States and limited freedom of speech and of the press.

Defame Government

Defaming the government involves making false and damaging statements against the governmental body or its officials, which may be restricted under certain laws.

Anti-American Organizations

Groups or entities that oppose the United States, its policies, people, or values, often engaging in activities that are counterproductive to U.S. interests.