Rationing
What will be an ideal response?
Allocating a scarce resource among those who want it
You might also like to view...
A dominant strategy refers to a strategy where one player knows he will always beat the other player
Indicate whether the statement is true or false
A perfectly competitive firm earns a profit when price is
A) equal to minimum average variable cost. B) above minimum average total cost. C) equal to minimum average total cost. D) equal to minimum average fixed cost.
In the ________, two duopolists compete by simultaneously selecting price
A) Cournot model B) Nash model C) Bertrand model D) kinked-demand model E) none of the above
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the real risk-free interest rate and the nominal value of the domestic currency in the context of the Three-Sector-Model?
a. The real risk-free interest rate falls, and nominal value of the domestic currency rises. b. There is not enough information to determine what happens to these two macroeconomic variables. c. The real risk-free interest rate rises, and nominal value of the domestic currency remains the same. d. The real risk-free interest rate falls, and nominal value of the domestic currency falls. e. The real risk-free interest rate rises, and nominal value of the domestic currency falls.