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Which statements are TRUE?
I. Free markets work to best utilize limited resources to satisfy limited wants.
II. Prices signal the value of resources to consumers and suppliers.
III. Prices reflect information.
Q6: If both the supply of and the
Q22: Which of the following explains why local
Q37: Unlike price floors, subsidies:<br>A) cause surpluses.<br>B) discourage
Q42: The chronic shortages of goods in the
Q134: During the 1973-1974 oil crisis, the United
Q139: Good X and Good Y are related
Q205: If the price elasticity of supply is
Q236: The availability of fewer substitutes for a
Q244: Speculators:<br>A) generally cause prices to rise.<br>B) generally
Q272: Price ceilings set by the government:<br>A) are