Economist John Kenneth Galbraith has argued that most prices in the United States' mixed economy are set by
A. a government planning committee.
B. the invisible hand.
C. the nation's largest corporations.
D. consumers voting with their dollars.
C. the nation's largest corporations.
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The deadweight loss generated by a perfect-price-discriminating monopoly
A) equals the deadweight loss of a single-price monopoly. B) is greater than the deadweight loss of a single-price monopoly. C) equals zero. D) equals the sum of all lost consumer surplus.
One of the social benefits of frictional unemployment is that
a. workers get time off from work. b. economic growth is limited. c. workers move from less to more valuable firms. d. wage rates decrease.
The lowest two-fifths of our population receives about _____% of our total income.
A. 5 B. 9 C. 12 D. 18
The Celler-Kefauver Act gave the Justice Department the authority to monitor and enforce the merger provisions from the Clayton Act.
Answer the following statement true (T) or false (F)