24 | Price Controls
Price controls are restrictions in the movement of prices, and they come in two forms: price ceilings, and price floors. Price ceilings are maximum allowable prices.
A $15 minimum wage could lift 1.3 million out of poverty — and cost 1.3 million jobs
A $15 federal minimum wage would likely boost pay for 27 million US workers, lifting 1.3 million households out of poverty, according to an analysis released Monday by congressional economists. But the income boost may come with a cost: It could trigger 1.3 million job losses.