The private ownership of property and the use of the market system to direct and coordinate economic activity is most characteristic of:
a. a command economy.
b. a mixed economy
c. a market economy.
d. a traditional economy.
c
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As disposable income increases, consumption
A. decreases. B. may either increase or decrease depending on the MPC. C. increases. D. may either increase or decrease depending on the wealth effect.
Refer to the scenario above. Suppose the amount that you receive, on winning the bet, is increased to $300. Which of the following statements is true?
A) There is no change in the outcome of the game. B) Your expected value of the bet will be positive. C) You will withdraw from the bet as the cost of betting increases. D) The probability of you winning the game increases to 2/100.
If the Fed purchases government securities in the open market, _____
a. the money supply will decrease b. the money supply will increase only if the seller of those securities is a commercial bank c. the money demand will increase immediately d. the money demand will decrease immediately e. the money supply will increase through the commercial banking system regardless of who the seller is
Which of the following is not a benefit of the Mform of an organization?
A. Improved use of senior management's time B. Focus across the entire product line C. Use of local product or geographic information D. Improved coordination among functional specialists