If government is going to provide an environment for economic prosperity
What will be an ideal response?
the self-interest of voters, politicians, and bureaucrats must be brought into harmony with efficient use of resources.
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In the long run, the supply of goods is based on
a. the availability of the resources and the costs of production. b. the availability of the resources and the level of consumers’ incomes. c. the costs of production and consumer preferences. d. government regulations.
Unexpected high inflation redistributes wealth from:
A. those who save to those who borrow. B. those who borrow to those who save. C. those who borrow to banks. D. banks to those who save.
If the market for a good is initially in equilibrium and there is a rightward shift of the demand curve, then
a. the equilibrium price will fall b. there will be a rightward movement along the supply curve c. the supply curve will also shift to the right d. the supply curve will shift to the left e. the demand curve will shift back as consumers react to the higher equilibrium price
An example of government investment in physical capital to increase business productivity is:
A. sewer systems. B. bridges. C. roadways. D. All of these are examples of ways governments can increase productivity.