The maximizing behavior of individuals and firms determines society's three main allocation decisions:
A) which goods are produced, how they are sold, and who gets them.
B) which goods are produced, how they are produced, and who finances them.
C) which goods are imported, how they are stored, and who gets them.
D) which goods are produced, how they are produced, and who gets them.
D
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In addition to being subject to the Fed's reserve requirements, the banks are also required to maintain a capital requirement, which is
A) the ratio of its deposits to its reserves. B) the ratio of its loans to its reserves. C) the ratio of its total assets to its total liabilities. D) the ratio of its equity to its total assets.
An open economy is one that
A) has a large government sector. B) lends and borrows in the international capital market. C) produces mainly agricultural goods. D) produces mainly manufactured goods.
The income tax requires that taxpayers pay 10 percent on the first $50,000 of income and 20 percent on all income over $50,000 . Andy paid $9,000 in taxes. What were his marginal and average tax rates?
a. 20 percent and 13 percent, respectively b. 20 percent and 15 percent, respectively c. 10 percent and 13 percent respectively d. 10 percent and 15 percent respectively
Which of the following probably slowed NAFTA's effect on the wages of Mexican workers?
a. the Mexican peso crisis in which Mexico's currency fell greatly in value b. the reluctance of the U.S. government to allow guest workers c. the Iraq war d. so much illegal immigration