All of the following are methods of rationing goods EXCEPT
A) political power.
B) the profit motive.
C) first come, first served.
D) prices.
Answer: B) the profit motive.
Economics
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Define horizontal differentiation
What will be an ideal response?
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If an increase in autonomous consumption spending of $10 million results in a $50 million increase in equilibrium real GDP, then
A) the MPC is 0.5. B) the MPC is 0.75. C) the MPC is 0.8. D) the MPC is 0.9.
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Building a good reputation in the marketplace:
A. is not a significant value to a seller. B. is easy to fake. C. can take a long time to establish. D. All of these statements are true.
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The opportunity cost of a decision can be examined by using a:
a) production possibilities graph b) factors of production chart c) global trade-off grid d) graph of increasing costs
Economics