Econ 102 quiz 3

Econ 102 quiz 3 Question 1 of 10 10.0/ 10.0 Points Which of the following is a problem with the price system that can lead to a breakdown in the coordination of economic activity? A. The price system works silently in the background. B. Prices can be slow to adjust. C. Prices may be flexible. D. all of the above Answer Key: B Question 2 of 10 10.0/ 10.0 Points If prices are sticky A. economic activity will be coordinated efficiently. B. economic activity will not be coordinated efficiently. C. prices will quickly adjust to changes in demand. D. quantity supplied will always equal quantity demand. Answer Key: B Question 3 of 10 10.0/ 10.0 Points What are some reasons why coordination of economic affairs through the price system may not work perfectly? A. may be too few prices (that is, more markets than prices), B. prices may not contain sufficient information C. prices may be "sticky." D. all of the above