All of the following are examples of nonprice rationing devices EXCEPT
A) price controls.
B) queues.
C) black markets.
D) waiting lists.
A
Economics
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A.W. Phillips collected data on the rate of change in money wages and plotted it against unemployment rates in the United Kingdom. The curve he fit to the data showed that
A) the rate of change of money wage rates and unemployment rates were inversely related. B) the rate of change of money wage rates and unemployment rates were directly related. C) the rate of change of money wage rates and unemployment rates were independent. D) as money wage rates increased, the unemployment rate was cut in more than half.
Economics
If disposable income decreases from $1800 to $1500 and MPC = 0.75, then saving will:
A. Increase by $225 B. Decrease by $225 C. Increase by $75 D. Decrease by $75
Economics