Price controls may be thought of as
A) a restraint on the rationing function of prices.
B) useful tools that promote production.
C) necessary in market economies.
D) the freeing-up of free market forces.
A
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The amount of money that a bank must keep on hand per dollar of deposits is called
A) the discount rate. B) the quick ratio. C) the multiplier. D) the reserve requirement.
The nominal interest rate is 6 percent and the real interest rate is 2.5 percent. What is the inflation rate?
a. 2.4 percent. b. 3.5 percent. c. 8.5 percent. d. 15 percent.
Bottlenecks:
A. occur only in one-way networks. B. occur in both one-way and two-way networks. C. are a positive externality associated with networks. D. occur only in two-way networks.
The principle that the cost of something is equal to what is sacrificed to get it is known as the
A. marginal principle. B. principle of opportunity cost. C. reality principle. D. principle of diminishing returns.