According to the authors of your text,
A) society could continue to exist even if people were totally selfish.
B) genuine concern for the well-being of others is essential if any social cooperation at all is to occur.
C) anarchism, or a society without a coercive government, is the only socio-political system consistent with free markets.
D) rules are necessary for government institutions, but not for market institutions.
B
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Which of the following statements is correct?
A. The federal funds rate is derived based on the prime rate. B. The prime rate involves longer, more risky loans than the federal funds rate. C. The federal funds rate is the rate banks charge their most creditworthy customers. D. The discount rate is the rate banks charge one another on overnight loans.
A shift in the demand curve will occur when
A. suppliers place more goods on the market. B. the price of a good rises. C. consumers want to buy more or less than before at a given price. D. the price of the good falls.
The slope of the production possibility frontier shows
a. the marginal rate of substitution between the two goods. b. the relative marginal costs of the two goods. c. the efficient combination of outputs possible using fixed amounts of input. d. the relative marginal productivities of the two goods.
For poor countries, a lack of capital and poorly developed infrastructure contribute to low farm productivity.
Answer the following statement true (T) or false (F)