Nonprice rationing devices are required
A. because the price system does not allocate resources efficiently.
B. so that prices will go back to equilibrium.
C. when there are price floors but not when there are price ceilings.
D. to allocate goods when there is a price ceiling.
Answer: D
Economics
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The causes of prosperity that link high levels of prosperity to high levels of inputs of production, without explaining why the levels of those inputs are high, are referred to as:
A) fundamental causes of prosperity. B) implicit causes of prosperity. C) proximate causes of prosperity. D) explicit causes of prosperity.
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According to Figure 2.5, the United States civilian unemployment rate in June 2013 was ________
A) 5.0% B) 22.1% C) 7.8% D) 8.5% E) none of the above
Economics