Prices
a. solve the problem of distribution of products among consumers.
b. act as rationing devices.
c. under laissez faire produce an efficient allocation of resources.
d. do all of the above.
d
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Banks create money by
A) printing currency. B) asking the Fed to print more currency. C) lending to the Fed. D) making loans. E) buying government securities.
The equilibrium output produced by a monopolistic competitor in the long run after the entry of new firms is ________
A) higher than the equilibrium output produced by the firm before the entry of new firms B) lower than the equilibrium output produced by the firm before the entry of new firms C) higher than the equilibrium output produced by a perfectly competitive firm in the long run D) equal to the equilibrium output produced by the firm before the entry of new firms
If there are sticky wages, and the price level is greater than what was expected, then
a. the quantity of aggregate goods and services supplied falls, which is shown by a shift of the short-run aggregate supply curve to the left. b. the quantity of aggregate goods and services supplied falls, as shown by a movement to the left along the short-run aggregate supply curve. c. the quantity of aggregate goods and services supplied rises, as shown by a shift of the short-run aggregate supply curve to the right. d. the quantity of aggregate goods and services supplied rises, as shown by a movement to the right along the short-run aggregate supply curve.
Are rent ceilings fair?
What will be an ideal response?