Economists perceive a college applicant's grade point average and standardized test scores (such as SAT and ACT scores)to be rationing devices.

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Economists consider grade point averages and standardized test scores to be rationing devices because they serve as a way to allocate limited spots in selective colleges and universities. Higher GPAs and test scores are often seen as indicators of academic excellence and potential success in college, making them important criteria for admission decisions.

Economists Perceive a College Applicant's Grade Point Average and Standardized