Market prices generally promote social cooperation because they
a. clarify the options available to people and encourage individuals to help others in exchange for income.
b. encourage government officials to levy taxes to provide people with the necessities of life.
c. eliminate scarcity by allowing prices to rise.
d. reward only altruistic actions, whereby, people seek to help others without the expectation of personal gain.
A
You might also like to view...
A market demand curve can be constructed by
A) adding the prices all consumers will pay for any given quantity. B) adding the quantities that all consumers buy at each price. C) adding the quantities that a consumer buys at the highest price. D) None of the above answers is correct.
Which statement is true?
A. The federal government collects much more in direct taxes than in indirect taxes. B. The federal government collects much more in indirect taxes than in direct taxes. C. The federal government collects the same amount in direct taxes as in indirect taxes.
Refer to the information provided in Figure 5.2 below to answer the question(s) that follow.
?Figure 5.2Refer to Figure 5.2. If the price of a hamburger increases from $8 to $10, the price elasticity of demand equals ________. Use the midpoint formula.
A. -0.33 B. -3.0 C. -30. D. -300
________ is the market value of the final goods and services produced within the borders of a country during a particular period of time
A) Net Product Value B) Gross National Product C) Total Product D) Gross Domestic Product