6.3 Flashcards
1
Q
maximum legal price that can be charged for a product
A
price ceiling
2
Q
lowest legal wage that can be paid to most workers
A
minimum wage
3
Q
lowest legal price that can be charged for a product
A
price floor
4
Q
agricultural for price set by the government to stabilize farm incomes
A
target price
5
Q
agricultural loan that carries neither a penalty nor further obligation to repay if not paid back
A
nonrecourse loan
6
Q
cash payment making up the difference between the market price & target price of an agricultural crop
A
deficiency payment
