Ask a Question
  
  
  
Top Posters
Since Sunday
13
12
12
11
11
10
10
10
10
10
10
10
New Topic  
wrote...
Posts: 82
2 weeks ago

Question 1.

Which of the following statements about a price system is TRUE?
I.Prices ration goods and services.
II.Prices indicate relative scarcity.


• I only

• II only

• Both I and II

• Neither I nor II

Question 2.

A price floor above the market clearing price typically results in
I.an excess quantity supplied
II.a shortage
III.an excess quantity demand


• I only

• II only

• III only

• II and III only
Source  Download
Economics Today: The Micro View
Edition: 19th
Author:
Read 7 times
2 Replies
Replies
Answer verified by a subject expert
wrote...
Posts: 54
Rep: 4 0
2 weeks ago
Sign in or Sign up in seconds to unlock everything.

Answer 1

Both I and II

Answer 2

I only
1
Related Topics
wrote...
2 weeks ago
Thanks for your help!
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers.
Learn More
Improve Grades
Help Others
Save Time
Accessible 24/7
  155 People Browsing
 112 Signed Up Today
Related Images
 2095
 632
 85
Your Opinion
In one word, how would you rate our website?
Votes: 79

Previous poll results: What's your favorite coffee beverage?