In a market, the rationing function of prices results in
A) long waiting lines.
B) a price ceiling.
C) an equilibrium between supply and demand.
D) a shortage or surplus.
Answer: C
Economics
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The earliest beginning of the European Union was the:
A) Maastricht Treaty. B) Treaty of Rome. C) Paris Accord. D) Louvre Accord.
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Considering how a change in one variable affects the value of another variable is called
A) the principle of supply and demand. B) the marginal principle. C) the Peter Principle. D) functional decision making.
Economics