A ration coupon is generally used
a. to allocate the excess supply of a good
b. if a price floor is imposed on a market
c. to limit the supply of a good
d. if there is an excess supply
e. to allocate the good under conditions of excess demand
E
You might also like to view...
The marginal revenue curve faced by a perfectly competitive firm
A. is downward sloping, because price must be reduced to sell more output. B. lies below the firm's demand curve. C. is horizontal at the market price. D. has all of these characteristics.
As an economy grows,
A) its PPF does not shift; instead, the production point moves from inside the PPF to be closer to the PPF. B) the opportunity cost of production will approach 0. C) it can eliminate scarcity. D) its PPF shifts outward. E) the opportunity cost of production will increase.
The basic purpose of economic models is to:
a. construct simplifying assumptions about the real world. b. explain reality in all its complexity. c. construct situations where controlled experiments can be carried out. d. provide explanations for, and predictions of the relationship between variables.
The market mechanism satisfies all consumer desires and maximizes business profits.
Answer the following statement true (T) or false (F)