Dorm rooms usually are not allocated by markets. Allocating dorm rooms is:
A. not affected by economic forces.
B. not an economic problem.
C. determined by prices.
D. an economic problem.
Answer: D
You might also like to view...
A recession can best be defined as a period of time in which
A. total output of the economy falls. B. total output of the economy rises very slowly. C. total unemployment falls. D. total international trade fails to rise. E. the rate of inflation falls below zero.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Assuming both countries have the same amount of resources available to them, which of the following statements is true? Country A has:
A. an absolute advantage in the production of cars, and Country B has the absolute advantage in the production of trucks.
B. an absolute advantage in the production of trucks, and Country B has the absolute advantage in the production of cars.
C. the absolute advantage in the production of both cars and trucks.
D. the absolute advantage in neither the production of cars nor trucks.
The primary advantage to selling pollution permits rather than using a fixed percent reduction for all firms is that:
A. enforcement costs are eliminated. B. the government can raise additional revenue. C. pollution reduction is accomplished in the least costly way possible. D. pollution is driven to zero.
The figure below shows the market for MP3 players in a small country. Dd and Sd are the domestic demand and domestic supply curves for MP3 players. Referring to the figure, if the country's imports are limited to the quantity QQ by a voluntary export restraint (VER), the loss to this importing nation is
A. $50 million. B. $35 million. C. $85 million. D. $195 million.