The type of nonprice rationing that most closely approaches the market outcome is
A. favored customer rationing.
B. coupon rationing with coupons that can be resold.
C. coupon rationing with coupons that cannot be resold.
D. first-come, first-served basis or queuing.
Answer: B
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Which of the following is a component of the M1 money supply?
A) Mutual funds B) Stock investments C) Three month T-bills D) All of the above are part of M1. E) None of the above is part of M1.
The drawback to calculating real GDP using base-year prices is that
A) relative prices change over time and these are not reflected in base-year prices, and this distorts GDP. B) quality changes are reflected in base-year prices. C) relative prices change over time and these changes are reflected in base-year prices. D) real GDP in one year is not comparable to real GDP in another year.
Suppose your bank raises its minimum-balance requirement for free checking on checking accounts by $500. You take $500 out of your passbook savings account and put it in your checking account. What is the overall effect on M1 and M2?
A) M1 rises by $500, M2 falls by $500. B) M1 is unchanged, M2 is unchanged. C) M1 rises by $500, M2 is unchanged. D) M1 is unchanged, M2 falls by $500.
If $1 is worth 0.70 euros, then 1 euro is worth:
A. $7.43. B. $1.43. C. $7.00. D. $0.70.