The role that prices play in directing resources away from overcrowded markets and towards markets that are underserved is known as the ________ function of price.
A. allocative
B. rationing
C. market
D. transitive
Answer: A
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Suppose initially the federal budget is balanced. The economy then enters a period of expansion. What is likely to happen to the federal budget?
A) It will remain balanced. B) It will show a deficit. C) It will automatically stabilize. D) It will show a surplus.
In the last 10 years, private union membership has
A. Increased, while public union membership has decreased. B. Decreased along with public union membership. C. Increased along with public union membership. D. Decreased, while public union membership has increased.
You are considering purchasing a home. You find one that you like but you realize that you will need to obtain a mortgage for $100,000. The mortgage company presents you with two options: a 15-year mortgage at a 6.0% annual rate and a 30-year mortgage at a 6.5% annual rate. What will be the fixed annual payment for each mortgage?
What will be an ideal response?
________: the farm sector often produces more than it can sell at a desired price, leading to rising stocks of surplus commodities such as corn and cheese
Fill in the blank(s) with correct word