the minimum wage is an example of a government price ceiling and results in a reduction in unemployment. true false

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Answer 1

The answer is true. A price ceiling is a cap on the highest price that can be charged for a good, commodity, or service that is established by the government or another party. Governments implement price caps allegedly to safeguard consumers from situations when commodities might become unaffordable.

A price ceiling is the utmost amount that is permitted by law to be paid for an item or service. In order to maintain an affordable price for a required commodity or service, a government sets price caps. For instance, the cost of bottled water surged to over $5 per gallon in 2005 during Hurricane Katrina.

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lemon spoke to his friend breyer, who offered lemon $120,000 for the ranch. lemon immediately wrote to martin telling him that his offer to sell at $80,000 had changed and that

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Lemon spoke to his friend Breyer, who offered Lemon $120,000 for the ranch. Lemon immediately wrote to martin telling him that his offer to sell at $80,000 had changed and that Martin's letter on Feb 14 created a valid agreement among he and Lemon.

What is an Agreement?

An agreement is the means through which two or more persons express their shared assent. It happens as a result of an offer and an acceptance and symbolises the fusion of ideas towards a common objective. One can express an agreement by words, actions, and in certain cases even silence. As a term for a legally enforceable contract, "agreement" is defined differently in various jurisdictions.

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In economics, investment is the expenditure by businesses on new plant and equipment. true false

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Investment includes all expenditures on new plant and equipment plus changes in business inventories. Hence, this statement is TRUE.

What is Investment?

A purchase made with the intention of creating income or capital growth is known as an investment. An asset's value increasing over time is referred to as appreciation. When a person invests in a good, they do not intend to utilize it as a source of immediate consumption, but rather as a tool for future wealth creation.

An investment always involves the expenditure of some capital—time, effort, money, or an asset—today with the expectation of a future return higher than the initial investment.

For instance, an investor might buy a financial asset right away with the hope that it would provide income later on or that it can be sold for a profit at a higher price.

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