System in which an agency such as a government determines everyone's share.
a. price floor
b. price ceiling
c. deficiency payment
d. rationing
Ans: d. rationing
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A) The Fed's total liabilities remain unaffected. B) The private bank's total assets remain unchanged. C) The private bank's composition of assets remain unchanged. D) The Fed's total assets decrease.
Which of the following leads to a movement along the demand curve for spinach but does not shift the demand curve for spinach?
A) a rise in the price of spinach B) a newly discovered health benefit from eating spinach C) an increase in the price of broccoli, a substitute for spinach D) an increase in income for all spinach lovers
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A) an irrational exuberance B) a credit-driven C) a stock D) a debt-driven
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A) becomes less elastic at every price. B) becomes less elastic at the price that prevailed before the change in income C) becomes more elastic at every price D) becomes more elastic at the price that prevailed before the change in income