What is the type of mechanism that answers the basic economic questions through a decentralized decision making process?
A) market system
B) dictatorship
C) command and control
D) mixed economic system
A
You might also like to view...
Overexpansion can cause a perfectly competitive firm to ________.
A) produce at a quantity where the market price exceeds the firm's average total cost B) produce at a quantity where the marginal revenue exceeds the firm's average total cost C) earn economic profit D) produce at a quantity where the average total cost exceeds the firm's marginal revenue
Economic growth causes a production possibilities frontier to shift outward
a. True b. False Indicate whether the statement is true or false
Which question did John Maynard Keynes pose for the classical economists?
A. What if their policies led to inflation? B. What if savings and investment were not equal? C. What if government intervention did not cure a recession? D. John Maynard Keynes posed none of these questions
Part B of Medicare covers
A. doctor visits outside of a hospital. B. prescriptions taken out of the hospital. C. only charges incurred in a hospital. D. all health care needs.