Question

Match each type of restriction with an example of its use.

Trade restriction
2
Limiting the price of a
gallon of gas to $2
Labor law
2
Charging a 50 percent
tariff on imported cotton
Price ceiling
Requiring that all workers
be paid at least $5.15 per
hour​

Answer 1

Answer: Price ceiling- Limiting the price of a

gallon of gas to $2

Trade restriction- Charging a 50 percent

tariff on imported cotton

Labor Law- Requiring that all workers

be paid at least $5.15 per

hour​

Step-by-step explanation:

Answer 2

Limiting the price of a gallon of gas to $2 - Price Ceiling

A price ceiling occurs when the goverment imposes a maximum price on a good or service. In this case, limiting the price of a gallon of gas to $2, meaning that the price of it is not allowed to go higher than that, is an effective price ceiling.

Charging a 50 percent tariff on imported cotton - Trade restriction

A tariff is the most common trade restriction. A tariff is simply a tax on imported goods, and has the main goal of protecting domestic producers from foreign competition.

Requiring that all workers be paid at least $5.15 per hour​ - Labor law

Labor law, as the name implies, regulates all matters related to labor. A minimum wage is a labor law, and it is also a price a floor: a government mandated minimum limit on the price of labor.