If people are unemployed, it means the price of labor is artificially high relative to the market-clearing price.

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Hey, the market-clearing price of any security is where supply and demand meet.

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"If supply responses and the market-clearing price are not considered, wholesalers and retailers will run out of gasoline and consumers will be worse off, " she says.

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Why don't promoters simply charge a market-clearing price for the tickets instead of bashing middlemen who do?

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When demand exceeds supply in a normal market, the price rises until it reaches a market-clearing level.

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And isn't demand for oil lower than it would have been if the price of oil had been at its true market-clearing level?

ECONOMIST: Faulty fuel pump