The original function of holding your foot to the floor on a carbureted engine was two-fold. Holding your foot down opens the throttle blades wide open. 1) The pumping losses are less and turning the engine over is easier. More air through the engine leans out what is in the engine / cylinder area, and get's it pumped out of the cylinder area and/or evaporates more quickly due to air movement. Maybe 3 fold ... 3) holding your foot to the floor stops the carb pump shot (1 last pump shot while pushing the pedal to the floor, but then no more) so no more gas will be added (at least by carb pump lever).
I surmise that modern engines this foot to the floor deal enacts a "flooded engine" ECU program to help it lean out and clear away.
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View my fuel log 2020 Mirage ES 1.2 manual: 42.5 mpg (US) ... 18.1 km/L ... 5.5 L/100 km ... 51.0 mpg (Imp)
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View my fuel log 2014 Mirage ES 1.2 manual: 62.4 mpg (US) ... 26.5 km/L ... 3.8 L/100 km ... 74.9 mpg (Imp)