A mixed economy
A. Is justified by the superiority of laissez faire over government intervention.
B. Utilizes both market and nonmarket signals to allocate goods and services.
C. Is one that allows trade with other countries.
D. Relies on the use of central planning by private firms rather than the government.
Answer: B
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The size of the money multiplier depends upon all of the following EXCEPT
A) the required reserve ratio. B) the currency-deposit ratio. C) excess reserves relative to deposits. D) the discount rate.
The deregulation of oil pricing will
a. increase our dependence on foreign oil. b. make the United States energy-independent by the year 2000. c. decrease domestic production. d. decrease the extent of the nation's dependence on foreign oil.
Which one of the following policies would not reduce water use?
a. Full marginal-cost pricing b. Microirrigation technology c. Reusing wastewater for industrial uses d. Subsidizing irrigation systems e. Removing water subsidies
Falling output, in the short run, could be due to:
A. an increase in short-run aggregate supply. B. a reduction in aggregate demand. C. an increase in long-run aggregate supply. D. an increase in aggregate demand.