Describe the choices that consumers make and explain why consumers are efficient on the market demand curve
What will be an ideal response?
Consumers allocate their budgets so they get the most value from their budgets. When consumers are on their demand curves, they are getting the most value out of their resources and are efficient.
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During the antebellum period, the U.S. used more economic output and resources than were domestically available during expansions and less during contractions. International trade assisted during these cyclical times
Indicate whether the statement is true or false
A major advantage of the corporation is
A. limited taxes. B. preferential treatment by state governments. C. limited liability of individual owners. D. limited numbers of owners and ease of decision making.
Large increases in agricultural productivity were not the primary reasons for migrating to which area of the nation during the antebellum period?
a. Illinois and Wisconsin b. Indiana and Ohio c. The far west d. Texas and Mississippi
The institutions that bring together savers, borrowers, investors, and insurers in a set of interconnected markets where people trade financial products is called the:
A. financial system. B. money system. C. market for interest rates. D. market for loanable funds.