Which of the following economic systems answers the basic economic questions by copying the previous generation?

a. Traditional economy. b. Command economy.
c. Market economy. d. Capitalism.


a

Economics

You might also like to view...

Figure 10-4 ? Figure 10-4 shows the industry’s supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S2, the firm is

A. going to shut down. B. incurring losses. C. earning zero economic profits. D. earning economic profit greater than zero.

Economics

Macroeconomics differs from microeconomics in that macroeconomics focuses on:

A. individual choices and group behavior in individual markets. B. production in specific markets. C. the performance of national economies and ways to improve that performance. D. prices in specific markets.

Economics

In 2016, Kendall Ford, an automobile dealership, spent $20,000 on a new car lift for its repair shop, $2,000 on a new copy machine for its sales division, and $600,000 on Ford Motor company stock

Unsold cars and trucks were valued at $400,000 on January 1, 2016 and unsold cars and trucks were valued at $900,000 on December 31, 2016. What is Kendall Ford's total investment spending in 2016? A) $22,000 B) $322,000 C) $522,000 D) $1,022,000

Economics

Which of the following statements is most correct if the Fed sees no need to engage in expansionary monetary policy?

A. It will be impossible for the Fed to shrink its balance sheet. B. Eventually, the Fed will shrink its balance sheet by letting securities it holds expire. C. The Fed is likely to increase the size of its balance sheet. D. The Fed will likely shrink its balance sheet rapidly.

Economics