Which of the following is not a function of prices in a market system? Prices ensure...

    

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Which of the following is not a function of prices in a market system? Prices ensure an equal distribution of goods and services among consumers. Prices send signals to buyers and sellers to help them make rational economic decisions Prices have the crucial job of balancing supply and demand. Prices coordinate economic activity. If the government removes a tax on a good, then the price paid by buyers will increase, and the price received by sellers will decrease. increase, and the price received by sellers will increase. O decrease, and the price received by sellers will decrease. O decrease, and the price received by sellers will increase. Which of the following causes a surplus of a good? a binding price ceiling More than one of the above is correct. a tax on the good a binding price floor Taxes are costly to market participants because they All of these answer options are correct. alter incentives. transfer resources from market participants to the government. distort market outcomes. Which of the following is not a function of prices in a market system? Prices ensure an equal distribution of goods and services among consumers. Prices send signals to buyers and sellers to help them make rational economic decisions Prices have the crucial job of balancing supply and demand. Prices coordinate economic activity. If the government removes a tax on a good, then the price paid by buyers will increase, and the price received by sellers will decrease. increase, and the price received by sellers will increase. O decrease, and the price received by sellers will decrease. O decrease, and the price received by sellers will increase. Which of the following causes a surplus of a good? a binding price ceiling More than one of the above is correct. a tax on the good a binding price floor Taxes are costly to market participants because they All of these answer options are correct. alter incentives. transfer resources from market participants to the government. distort market outcomes.

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