Asked by
Madison Fitch
on Oct 13, 2024
Verified
Usury laws are a form of price _____ and rent control is a form of price _____.
A) floor,floor
B) ceiling,ceiling
C) ceiling,floor
D) floor,ceiling
Usury Laws
Regulations that set the maximum interest rate that can be charged on loans, intended to protect consumers from excessively high rates.
Rent Control
Government policies or laws that limit the amount landlords can charge for leasing a home or renewing a lease to protect tenants from sharp increases.
Price Ceiling
A government-imposed limit on the price charged for a product or service, intended to prevent prices from rising to levels considered too high for consumers.
- Obtain a clear understanding of how price ceilings and price floors operate within market economics.
- Analyze the reasons and outcomes of government policies like rent controls, minimum wage laws, and usury laws.
Verified Answer
RM
Learning Objectives
- Obtain a clear understanding of how price ceilings and price floors operate within market economics.
- Analyze the reasons and outcomes of government policies like rent controls, minimum wage laws, and usury laws.