In a freely operating market system, queuing is most likely to occur when
A. the market clearing price increases.
B. demand fluctuates unpredictably and quickly.
C. demand increases gradually over time.
D. selling necessities.
Answer: B
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In the aggregate expenditures model, consumption depends on
A. disposable income. B. the natural rate of unemployment. C. whether the government has a budget surplus or deficit. D. potential output.
Neither the supply of nor demand for a good is perfectly elastic or perfectly inelastic. So, imposing a tax on the good results in ________ in the price received and kept by sellers and a ________ in the price paid by buyers
A) a rise; rise B) a rise; fall C) a fall; rise D) a fall; fall E) no change; rise
Microeconomics deals with which of the following?
a. the total output of an economy b. the measurement of a nation's inflation rate c. how producers and consumers interact in individual markets d. how tax policies influence economic growth e. whether wage growth will outpace inflation in the coming year
What percentage of American has a favorable opinion of government workers?
a. 20% b. 50% c. 70% d. 90%