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wrote...
Posts: 162
2 months 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 15 times
2 Replies
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Answer verified by a subject expert
wrote...
Posts: 189
Rep: 5 0
2 months ago
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Answer 1

Both I and II

Answer 2

I only
1
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2 months ago
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