Quizlet
or
Familiarize |
Learn |
Test |
|||
Play Scatter |
Play Space Race |
||||
Voice Scatter |
Voice Race |
||||
 Combine with other sets |
Login to add to Favorites |
| Print: Term List | Flashcards |
Editing not allowed |
| Export |
Deleting not allowed |
| With groups: Economics Instructors, ECO 211 001 (2009SP) | |
| HTML link to set: | Tiny link: |
 Share on Facebook |
 Share on MySpace |
| Term | Definition |
|---|---|
| Price Ceiling | A maximum price set by government below the equilibrium price. By law, price is not allow to rise above the price ceiling. |
| Ration Coupon | A government issued coupon or certificate which allows the holder to purchase a specific amount of an item at or below the price ceiling. |
| Rent Control | A government set price ceiling on rent. |
| Usury Law | A law that sets an upper limit on the interest rate that can be charged on certain types of loans. |
| Price Floor | A minimum price set by government above the equilibrium price. By law, price is not allow to fall below the price floor. |
| Farm Price Supports | Government set price floors on farm products. |
| Minimum Wage Law | A federal law that specifies the lowest hourly wage rate that can be paid to workers, this law is established by Congress. |
!
| Terms | 7 |
| Creator | lsturgis |
| Created | December 1, 2008 |
| Groups | Economics Instructors, ECO 211 001 (2009SP) |
| Subject | microeconomics |
| Access | Anyone |
| Edit | Creator Only |
Chapter 6