In most societies, dollar price acts as the main rationing device. If dollar price weren't the main rationing device, would there still be a need for some rationing device to take its place?
A) No, because with dollar price there would be no scarcity, although shortages would still exist.
B) Yes, because there is a need for a rationing device as long as scarcity exists.
C) Yes, because there is a need for a rationing device as long as the world's population is so large.
D) No, because dollar price creates scarcity and without money price scarcity wouldn't exist.
E) none of the above
B
You might also like to view...
The least responsive to interest rate changes is the ____ demand for money.
A. transactions B. precautionary C. speculative
In 1870, the richest country in the world was
a. Germany. b. Japan c. the United Kingdom. d. the United States.
The demand for insulin is typically_________________ than the demand for a large screen TV
a. More elastic b. More inelastic c. Less elastic d. Less inelastic
One of the main purposes of the 1947 General Agreement on Tariffs and Trade was to
a. repudiate the most-favored-nation principle. b. encourage bilateral trade agreements between nations. c. promote free trade among nations. d. replace the use of import quotas with tariffs.