Examples of Price Ceiling?

Answer

Price ceilings are government imposed limits on the prices charged for products, goods, or services. An example of a price ceiling is the government control of gasoline prices in the 1970's. Another example of price ceilings is rent control which is currently used in 51 municipalities in New York State, many areas of California, Washington DC, and throughout the United Kingdom (England, Scotland, and Wales). Another example of price ceilings is the VFL wage cap introduced in the 1930's and finally abolished in 1968. Florida has a price ceiling on premiums charged for homeowners insurance, which caused State Farm to pull the plug on over a million homeowners.
Q&A Related to "Examples of Price Ceiling?"
An example of a price ceiling could be in the 1970's the government controlled
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