Multiple Choice
The rationing function of prices means that
A) government is responsible for setting the prices of basic foods.
B) all goods and services are produced by large firms.
C) businesses determine what goods consumers should purchase.
D) buyers and sellers synchronize their decisions through the price system.
Correct Answer:

Verified
Correct Answer:
Verified
Q310: The U.S. government imposes import quotas on
Q311: Which of these would NOT be considered
Q312: Other things being equal, suppose that the
Q313: Which group of individuals most likely benefits
Q314: A price ceiling set below a market
Q316: In a market system, which component conveys
Q317: Under rent controls<br>A) there is a shortage
Q318: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Government imposed price
Q319: Government-imposed quantity restrictions<br>A) generate a higher price
Q320: Goods A and B are complementary goods.