Events that arise spontaneously and unpredictably, often as a result of changes in consumer and business confidence regarding the economy, are called

Which of the following is a problem with the price system that can lead to a breakdown in the coordination of economic activity?

A) Prices can be slow to adjust. B) The price system works silently in the background. C) Prices may be flexible. D) all of the above

A shortage causes the

A) demand curve to shift leftward. B) supply curve to shift rightward. C) price to fall. D) price to rise.