Asked by
AVERY LEWIS
on Nov 30, 2024
Verified
Which of the following government programs will NOT create a surplus?
A) Farm price support payments
B) The minimum wage law
C) Usury laws
D) A price floor above the equilibrium price
Price Support Payments
are subsidies or financial assistance provided by the government to farmers or producers to maintain the market price of an agricultural product above its market equilibrium.
Minimum Wage Law
Minimum Wage Law is legislation that sets the lowest hourly rate that can be paid to workers, aiming to ensure a minimum standard of living for employees.
- Acquire knowledge on the influence of governmental policies such as price ceilings and floors on the stability of market equilibrium.
- Comprehend the economic principles underpinning state policies on markets, along with their deliberate and accidental effects.
Verified Answer
MS
Learning Objectives
- Acquire knowledge on the influence of governmental policies such as price ceilings and floors on the stability of market equilibrium.
- Comprehend the economic principles underpinning state policies on markets, along with their deliberate and accidental effects.