Nonprice Rationing Devices Are Required

question 360

Multiple Choice

Nonprice rationing devices are required

• A) because the price system does not allocate resources efficiently.
• B) when there are price floors but not when there are price ceilings.
• C) so that prices will go back to equilibrium.
• D) to allocate goods when there is a price ceiling.

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Definitions:

Legal Sense

Pertains to understanding, awareness, or interpretation within the context of the law.

After-Acquired Property

Property of the debtor that is obtained after a security interest in the debtor’s property has been created.

Security Agreement

A contract that grants a lender a security interest in an asset, which serves as collateral for a loan.

Creditor

A person or organization to whom money is owed by a debtor.