Which of the following statement is FALSE?
A. Only the price system can be used to ration goods.
B. Coupons can be used to ration goods.
C. Random assignment can be a method of rationing.
D. Queuing can be used for rationing.
Answer: A
You might also like to view...
Supply-side economists argue cuts in tax rates
A) always reduce tax revenues. B) may increase tax revenues. C) always increase budget deficits. D) have no effect on tax revenues.
The area above the supply curve and below the market price represents:
a. the consumer surplus b. the producer surplus. c. the deadweight loss of the producer. d. the deadweight loss of the consumer.
How does a government typically ensure that everyone contributes to public goods?
a. Collecting taxes b. Selling bonds c. Supporting private industry d. Charging usage fees
In 1980, the U.S. economy had an inflation rate of
a. about 1 percent and an unemployment rate of about 7 percent. b. less than 4 percent and an unemployment rate of less than 6 percent. c. less than 7 percent and an unemployment rate of about 9 percent. d. more than 9 percent and an unemployment rate of about 7 percent.