The adjustment of the ____________ is the rationing mechanism in market economies.
A. price
B. competition
C. government
D. None of the choices are correct.
A. price
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An appreciation in the U.S. dollar benefits which of the following groups of people?
a. All people living in the United States. b. U.S. producers who export farm equipment to other countries. c. U.S. consumers who buy imported automobiles. d. Foreigners who wish to travel to the United States. e. U.S. consumers who buy only goods made entirely in the United States.
If macroeconomics looks at the economy as a whole, it focuses on which of the following?
A. households B. business firms C. unemployed people D. the division of labor
A problem with a precommitment policy is that it:
A. locks the Fed into contractionary policy. B. determines the Fed's response for a period of time. C. binds the hands of the Fed from responding to unexpected events. D. will cause the Fed to lose credibility.
The aggregate supply curve is shifted to the right (outward) by a decrease in the price of any input to the production process.
Answer the following statement true (T) or false (F)