If the price is so low that vendors start to run out of bottled orange juice, they might ration their remaining inventory among willing buyers by
A. lowering the price per bottle.
B. raising the price per bottle.
C. closing early.
D. creating a shortage.
Answer: B
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President Obama needs to get Congressional approval to enact measures to boost the economy. The time involved to formulate and get approval for these policies are called
A) crowding in. B) outside lags. C) automatic stabilization. D) inside lags.
In the figure above, with international trade U.S. consumers buy ________ million T-shirts per year at ________ per T-shirt
A) 60; $5 B) 40; $8 C) 20; $5 D) 40; $5 E) 60; $11
Refer to Figure 15-4. What is the amount of the monopoly's profit?
A) $2,700 B) $4,200 C) $10,400 D) $12,600
Which of the following is a legal right to control who may produce a good?
A. A patent B. A controller C. A legal controller D. A proxy