The Rationing Function of Prices Refers to The

question 117

Multiple Choice

The rationing function of prices refers to the:

• A)tendency of supply and demand to shift in opposite directions.
• B)fact that ration coupons are needed to alleviate wartime shortages of goods.
• C)capacity of a competitive market to equate the quantity demanded and the quantity supplied.
• D)ability of the market system to generate an equitable distribution of income.

Analyze the ethical considerations in the use of force by police, focusing on proportionality and intention.

Explore theories related to the causes of excessive force by police.

Examine the shift in handling mentally ill individuals within the criminal justice system.

Discuss the importance of privacy rights and ethical issues in law enforcement practices.

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Definitions:

Expansionary Gap

A situation where real GDP exceeds potential GDP, often leading to inflationary pressures due to high demand in an economy.

Equilibrium Output

The level of output where the quantity of goods and services produced equals the quantity of goods and services demanded.

Expansionary Gap

A situation in macroeconomics where the actual output in an economy exceeds the potential output, traditionally leading to inflation.

Actual Price Level

The current market prices of goods and services, reflecting the real value of money and the purchasing power of consumers.