Scalping and other black market activities arise when
A) the prices of goods are allowed to adjust to their equilibrium levels.
B) the quantities of goods demanded and supplied are allowed to adjust to their equilibrium levels.
C) the prices of goods are restricted to levels above equilibrium prices.
D) the prices of goods are restricted to levels below equilibrium prices.
D
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A subjective analysis of "what should be" in the economy is referred to as
A) positive economics. B) normative economics. C) command economics. D) implicit economics.
"As interest rates rise, people save more money." A graph displaying this relationship would show
A) an inverse relationship. B) a positive relationship. C) a cross-section graph. D) a positive then a negative relationship.
In the United States, corporate profits are taxed at the corporate level but are not taxed as personal income in the form of dividend payments
Indicate whether the statement is true or false
The trade-offs between inflation and unemployment experienced in the 1970s and 1980s indicated to neo-Keynesians that the long-run Phillips curve was
a. horizontal b. upward sloping c. downward sloping d. vertical e. undefined