Nonprice rationing devices are required
A. because the price system does not allocate resources efficiently.
B. so that prices will go back to equilibrium.
C. when there are price floors but not when there are price ceilings.
D. to allocate goods when there is a price ceiling.
Answer: D
You might also like to view...
Say’s Law states that
a. supply is greater than demand. b. supply is less than demand. c. demand generates supply. d. supply generates demand.
Currently in the United States, money is backed by
a. silver in the IMF vaults. b. Federal Reserve notes in banks. c. gold in Fort Knox. d. everyone's willingness to accept it.
The decrease in Money Supply, the Fed would?
A. Buy government's bonds B. Increase the discount rate C. Decrease the reserve requirement D. All of the above E. None of the above
Use the figure below to answer the following question.
The figure shows three supply curves for wheat. Which of the following would cause the supply of wheat to shift from S1 to S2?
A. an increase in the price of wheat B. a decrease in the price of water C. an increase in the price of water D. a new tax on wheat production