Which of the following ensures that you'll find the goods and services that you're looking for?
A. Government and the rule of law
B. Markets and banks
C. Government and incentives
D. Markets and incentives
Answer: D
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U.S. GDP includes estimates of the value of items that are produced and consumed at home, such as housework and car maintenance
a. True b. False Indicate whether the statement is true or false
Government intervention in the economy with the goal of promoting technology-producing industries is known as patent policy
a. True b. False Indicate whether the statement is true or false
In theory, if a profit-maximizing firm in a perfectly competitive labor market found it advantageous to hire one less worker, the firm should pay a
A. higher wage rate to all previous workers hired. B. lower wage rate but only to the most recently hired workers. C. lower wage rate to all previous workers hired. D. higher wage rate but only to the most recently hired workers.
Other things being equal, the quantity of money that people want to hold can be expected to