Because of scarcity, rationing is
A. not a problem because governments can determine what everybody wants.
B. unimportant because prices clear markets.
C. necessary because people cannot get everything they want.
D. unimportant because people get what they want.
Answer: C
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Which of the following statements is correct?
a. A general, persistent decline in stock prices may signal that the economy is about to enter a boom period because people will be able to buy stock for less money.
b. A general, persistent decline in stock prices may signal that the economy is about to enter a recession because low stock prices may mean that people are expecting low corporate profits.
c. A general, persistent decline in stock prices may signal that the economy is about to enter a recession because low stock prices mean that corporations have had low profits in the past.
d. Expectations about the business cycle have no impact on stock prices.
Merck, an American pharmaceutical company, produces a vaccination that is used against chicken pox. The table shows the domestic demand for, and supply of, this medication, measured in thousands of doses per day
The world price of this medicine is $24 per dose. a. With no trade, what is the U.S. price and quantity of the vaccine? b. At the world price, how many doses are demanded in the United States? c. At the world price, how many doses are produced in the United States? d. At the world price, how many doses are exported?
Value-added taxes were introduced in the European Union _____
a. to get rid of inefficient transaction taxes b. to harmonize tax structures among nations c. to make taxes more equitable d. all of the above e. a and b
Imbalances in information can cause problems between:
A. buyers and sellers. B. lenders and borrowers. C. employers and employees. D. All of these statements are true.