Usury laws and rent control are examples of _____. a) price floors b) price ceilings c) rationing d) the law of supply and demand

Let's briefly define the given key terms: a) Price floors: A minimum price set by the government or any other regulatory entity for a specific product/service, where the selling price cannot go below this set limit. b) Price ceilings: A maximum price set by the government or any other regulatory entity for a specific product/service, where the selling price cannot go above this set limit. c) Rationing: A system by which distribution or allocation of scarce resources or goods is controlled and limited, usually by the government. d) The law of supply and demand: An economic model that states the price of a good/service will eventually settle at a point where the quantity supplied will equal the quantity demanded.

Now, let's briefly look at the given examples: 1. Usury laws: These are regulation that limits or restrict the maximum rate of interest that can be charged on a loan. 2. Rent control: These are regulations that limit the amount of rent that can be charged by landlords to tenants.

Now that we have a basic understanding of the key terms and examples, let's compare them: a) Price floors: Neither usury laws nor rent control are setting a minimum limit on prices, so this option doesn't fit the examples. b) Price ceilings: Both usury laws and rent control are examples of setting a maximum limit on prices i.e., interest rates and rents, respectively. So, this option fits the examples. c) Rationing: While both usury laws and rent control might lead to a form of rationing in their respective markets, the term "rationing" itself doesn't inherently describe these examples. d) The law of supply and demand: Although usury laws and rent control can affect supply and demand, they do not directly represent the law of supply and demand. Thus, based on the comparison, we can select the most appropriate option.

By analyzing the given examples and comparing them to the provided options, we can conclude that: Usury laws and rent control are examples of \(b)\) price ceilings.