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:

Rubénistes

A faction in French art criticism during the 17th and 18th centuries that favored the color and techniques of Peter Paul Rubens over line and form.

French Academy

An influential French institution founded in 1635, responsible for setting standards in the arts and sciences, often emphasizing classical ideals.

Color

A visual property of objects caused by the way they reflect or emit light, perceived by the eyes and interpreted by the brain.

Enlightenment

A cultural and intellectual movement in Europe during the 17th and 18th centuries emphasizing reason, individualism, and skepticism towards traditional ideas.