When the official price for goods and services is below the equilibrium price in a market, prices no longer perform their rationing function efficiently
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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What is producer surplus?
What will be an ideal response?
Economics
The more excess reserves banks choose to keep,
A) the larger the deposit multiplier. B) the smaller the deposit multiplier. C) the lower the required reserve ratio. D) the higher the required reserve ratio.
Economics
Suppose a cup of coffee at the campus coffee shop is $2.50 and a cup of hot tea is $1.25 and that a student's beverage budget is $20 per week. What is the most cups of tea the student could buy?
a. 20 b. 16 c. 10 d. 8
Economics
The market system works by getting each person, motivated by his or her own self-interest, to produce products for other people.
Answer the following statement true (T) or false (F)
Economics