If it is impossible or very costly to exclude nonpaying customers from receiving a good, the good is considered to be

In the above figure, point B represents

A) a recessionary gap. B) a full-employment equilibrium. C) an inflationary gap. D) a decrease in aggregate demand.

A long line at the campus bookstore at the beginning of the term is an example of

A) price rationing. B) an ineffective price ceiling. C) a non-price rationing device. D) an ineffective price floor.