What is the most prominent rationing device you will likely find at your campus bookstore?
A) dollar price
B) brute force
C) anti-theft tags on the high-priced items
D) none of the above
A
You might also like to view...
Figure 11-1
In Figure 11-1, the economy is experiencing a(n)
a.
inflationary gap equal to EF.
b.
inflationary gap equal to ET.
c.
recessionary gap equal to ET.
d.
recessionary gap equal to FT.
When the government imposes an $8 price ceiling on a good that would have had a $10 equilibrium price without the ceiling,
A. surpluses are created. B. supply will increase to meet the demand. C. excess demand occurs. D. quantity demanded of the good will fall.
According to the capture hypothesis of regulation
A) regulation favors producers over consumers because the producers were able to pay off the regulators. B) regulation eventually favors producers over consumers because the producers have more at stake than individual consumers. C) regulation benefits the regulators and the legislators who support the regulation by enabling them to obtain favors from both producers and consumers. D) regulation benefits the consumers over producers because the number of consumers is greater than the number of producers, giving the consumers more political clout.
Empirical evidence suggests that, when unemployment benefits run out, the probability that an unemployed person will find a job
A) remains constant. B) goes down by 20 percent. C) about doubles. D) about triples.