The rationing function of price
A) occurs when there is a movement of resources into or out of markets as a result of changes in the equilibrium market price.
B) is also known as the guiding function of price.
C) occurs when consumers change their tastes and preferences.
D) occurs only when the market experiences severe shortages.
C
Economics
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The data in the table above are the U.S. balance of payments. The current account balance is
A) $140 billion. B) $155 billion. C) $170 billion. D) -$45 billion.
Economics
The disadvantages of proprietorships include
A) limited liability for the owner. B) double taxation of business profits. C) the fact that the proprietorship can continue even after the owner dies. D) the fact that the proprietor is solely responsible for all the firm's debts.
Economics