When Congestion Occurs on the Freeway (Because of a Shortage

question 14

Multiple Choice

When congestion occurs on the freeway (because of a shortage of freeway space) , an economist would most likely explain this by saying that it is because

• A)the freeway has too few miles of roadway.
• B)there are too many cars.
• C)the price of driving on the freeway is below the equilibrium price.
• D)the freeway has too many miles of roadway.

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A monetary system where a country's currency or paper money has a value directly linked to gold; countries committed to convert paper money into a fixed amount of gold upon request.

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