The Rationing Function of Prices Refers to

question 54

Multiple Choice

The rationing function of prices refers to

• A) the situation when government must intervene in a market when there is a large shortage or surplus.
• B) the synchronization of decisions by buyers and sellers that leads to an equilibrium.
• C) the synchronization of decisions by buyers and sellers through the direction of government agencies.
• D) the situation when only the rich get the goods they want.

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Definitions:

Existence

The fact or state of living or having objective reality.

Initialization

The process of assigning an initial value to a variable at the time of its creation.

Static Variables

Variables that retain their value between function calls and are local to the function block in which they are declared but their lifespan is the duration of the program.

Automatic Variables

Variables that are automatically allocated on the stack and are local to the function block in which they are declared.