Author Question: A long line at the campus bookstore at the beginning of the term is an example of A) price ... (Read 181 times)

mckennatimberlake · **on:** Jun 29, 2018

A long line at the campus bookstore at the beginning of the term is an example of

A) price rationing.
B) an ineffective price ceiling.
C) a non-price rationing device.
D) an ineffective price floor.

Question 2

One of the assumptions underlying the production possibilities curve is that

A) at least one of the factors of production is a free good.
B) the quantity of the resources available for the production of economic goods is fixed over a given time period.
C) there is at least one factor of production that is employed inefficiently.
D) some of the factors of production are not being used.