Term
| price ceiling or price cap |
|
Definition
A government regulation that makes it illegal to charge a price higher than a specified level is called a ________________.
. |
|
|
Term
|
Definition
| When a price ceiling is applied to a housing market, it is called a ________________ . |
|
|
Term
|
Definition
| The time spent looking for someone with whom to do business is called __________________. |
|
|
Term
|
Definition
| When a price ceiling is applied to a housing market, it is called a __________________. |
|
|
Term
|
Definition
| The time spent looking for someone with whom to do business is called __________________. |
|
|
Term
|
Definition
| A rent ceiling also encourages illegal trading in a ______________, an illegal market in which the equilibrium price exceeds the price ceiling. |
|
|
Term
|
Definition
| A government regulation that makes it illegal to charge a price lower than a specified level is called a _____________________. |
|
|
Term
|
Definition
| When a price floor is applied to a labour market, it is called a _________________. |
|
|
Term
|
Definition
| ______________is the division of the burden of a tax between buyers and sellers. |
|
|
Term
|
Definition
| A _______________ is an upper limit to the quantity of a good that may be produced in a specified period. |
|
|
Term
|
Definition
| A ____________ is a payment made by the government to a producer. |
|
|
