The general set of rights to own private property and exchange goods, services, and financial assets with minimal government interference is defined as
A) capitalism.
B) market socialism.
C) economic freedom.
D) economic privilege.
C
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What is the Principal of Optimization at the Margin? Explain with an example
What will be an ideal response?
Like competitive firms, monopolies charge a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
Suppose the Fed conducts an open market sale. We can expect this transaction to
A) reduce the money supply, increase bond prices, and lower interest rates. B) increase the money supply, lower bond prices, and lower interest rates. C) increase the money supply, raise bond prices, and lower interest rates. D) reduce the money supply, reduce bond prices, and increase interest rates.
Along a straight-line demand curve, total revenue is the highest when elasticity of demand is:
A. 1. B. between zero and 1. C. zero. D. infinity.