When a good becomes more scarce, and the government prevents sellers from raising prices,
A) demanders are prevented from competing against one another to obtain the good.
B) the opportunity cost to purchasers of obtaining the good will nonetheless rise as long as the quantity demanded is greater than the quantity supplied.
C) the quantity purchased will be greater than the quantity supplied.
D) there will be no rationing system to allocate the good among competing users.
B
You might also like to view...
In a typical college classroom without a seating chart, dozens of students nevertheless occupy classroom seats with a minimum of confusion and disorder. Economics explains the orderly process of seat selection by assuming students
A) engage in entirely random decisions, from which only divine intervention can generate order in the classroom. B) follow a simple, perhaps even unwritten, rule, such as "seats belong to the person who first occupies them." C) know all the consequences of their actions, and thus purposefully create an orderly classroom seating assignment even if the professor doesn't require one. D) trick question: economics cannot deduce any sensible scientific claims about the behavior of college students.
Keynesians are skeptical of the classical theory that recessions are periods of increased mismatch between workers and jobs because
A) help-wanted advertising falls during recessions. B) help-wanted advertising rises during recessions. C) workers spend a lot of time searching for work in recessions. D) people are indifferent between being employed or not.