An Example of a Price Floor Is

question 199

Multiple Choice

An example of a price floor is

• A)the regulation of gasoline prices in the U.S.in the 1970s.
• B)rent control.
• C)the minimum wage.
• D)any restriction on price that leads to a shortage.

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Definitions:

Median

The middle value in a list of numbers, which separates the higher half from the lower half.

First Quartile

The value below which 25% of the data falls in a data set, representing the median of the lower half of the dataset.

25th Percentile

Represents the value below which 25% of the data points in a dataset fall.

Global War

A conflict involving major parts of the world; often involves multiple countries across different continents.