Nonprice Rationing Will Happen Whenever There Is Excess Supply in a Market

question 139

True/False

Nonprice rationing will happen whenever there is excess supply in a market.

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Definitions:

Congress

A national legislative body, particularly in the United States, consisting of two houses: the Senate and the House of Representatives, responsible for making federal laws.

Inherent Powers

Powers that are not explicitly stated but are implied in the constitution, allowing government to perform actions necessary for its functioning.

Legal Authority

The legally sanctioned power given to individuals or entities to make legal decisions, enforce laws, and administer justice.

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International agreements entered into by the president that do not require Senate approval, often used in foreign policy.