When prices are used as a rationing device, goods that are ...

[mwit1967]

When prices are used as a rationing device, goods that are relatively more scarce than they used to be will have
 
  A) greater demand.
  B) lower excess demands.
  C) higher prices.
  D) long queues.

Question 2

Ceteris paribus assumption means
 
  A) the role of rational self-interest in the economy.
  B) that nothing else changes except the variables under consideration.
  C) relying on real-world data in evaluating the usefulness of a model.
  D) analysis that is strictly limited to making either purely descriptive statements or scientific predictions.

[sierrahalpin]

Answer to Question 1

C

Answer to Question 2

B

[mwit1967]

Gracias!

[dyrone]

Thanks for the timely response, appreciate it