Let's take a closer look at an example. A price ceiling is the maximum price that can be charged. If the price is set below the equilibrium price, the price ceiling is said to be effective (or binding).
Criminal vagrancy laws were originally aimed at those wanderers and. beggars physically capable of working.24 However, in 1744 vagrancy. crimes were divided into three classes: idle and disorderly persons, rogues and vagabonds, and incorrigible rogues.
Then in 1977, Congress amended the Federal Reserve Act, revising the Fedâs purpose. The agency was charged with seeking âthe goals of maximum employmentâ as well as âstable prices and moderate long-term interest rates.â This is often called the âdual mandateâ of the Fed: to keep employment high and inflation low.