Search results
Results From The WOW.Com Content Network
A government-set minimum wage is a price floor on the price of labour. A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [21] good, commodity, or service. A price floor must be higher than the equilibrium price in order to be effective. The equilibrium price, commonly called ...
A price ceiling is a government- or group-imposed price control, or limit, on how high a price is charged for a product, commodity, or service. Governments use price ceilings to protect consumers from conditions that could make commodities prohibitively expensive. Such conditions can occur during periods of high inflation, in the event of an ...
A price floor is a government- or group-imposed price control or limit on how low a price can be charged for a product, [1] good, commodity, or service. It is one type of price support; other types include supply regulation and guarantee government purchase price. A price floor must be higher than the equilibrium price in order to be effective.
You heard that right: price controls. It's not clear how an "excessive" profit would be defined, nor why policing that would be in the purview of the federal government, nor why food prices in ...
Office of Price Administration. The Office of Price Administration (OPA) was established within the Office for Emergency Management of the United States government by Executive Order 8875 on August 28, 1941. The functions of the OPA were originally to control money (price controls) and rents after the outbreak of World War II.
The cause was government recklessness. Government price-controls will not end it without creating shortages. Although inflation has now fallen below 3 percent, it is still too high. Given the ...
Modern rent controls were first adopted in response to the Great Depression and WWII- era shortages. Because of these shortages and the overall national economic crisis, the federal government called for emergency price control on consumer goods and rent control in 1942. [25] However, not all states decided to implement these rent control laws.
The Economic Stabilization Act of 1970 (Title II of Pub. L. Tooltip Public Law (United States) 91–379, 84 Stat. 799, enacted August 15, 1970, [2] formerly codified at 12 U.S.C. § 1904) was a United States law that authorized the President to stabilize prices, rents, wages, salaries, interest rates, dividends and similar transfers [3] as part of a general program of price controls within the ...