It is accurate to think of a fixed exchange rate as a simultaneous price ceiling and price floor. True
A price ceiling is the maximum amount, mandated by law, that a seller can charge for a product or service. It's generally applied to consumer staples.
A price ceiling is a limit on the price of a good or service imposed by the government to protect consumers by ensuring that prices do not.
A price ceiling is a legal maximum price that one pays for some good or service. A government imposes price ceilings in order to keep the price of some necessary goods or services affordable.
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