Examlex
If the equilibrium price is $1.00, a shortage will occur if a price ceiling of $2.50 is implemented.
IQ Tests
Standardized assessments designed to measure human intelligence and cognitive abilities.
Meritocratic Sorting
Meritocratic sorting is the process of organizing individuals or entities based on merit or achievements, often in educational or occupational contexts.
Credential Inflation
Credential Inflation is the increasing demand for higher educational qualifications for jobs that previously required less education, devaluing the worth of basic credentials.
Stratification System
Refers to the structured ranking of individuals and groups in any society based on wealth, power, race, education, etc., leading to social inequality.
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Q265: Long-term shortages and surpluses are almost always