Issues of the distribution of goods and services and incomes in a competitive market system are the primary topic of which fundamental question?
A. How will the system promote progress?
B. Who will get the goods and services?
C. How will the goods and services be produced?
D. What goods and services will be produced?
Answer: B
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Answer the following statements true (T) or false (F)
Economies cannot function without money. The amount of national income in an economy equals the money supply in an economy. Liquidity increases as we move from the M1 to the M2 definition of the money supply. If gold is used as money in an economy, the money supply is easy to control. Commodity money can be used only as a medium of exchange.
When disposal income is $5.0 trillion, consumption expenditure is $4.5 trillion. When disposal income is $6.0 trillion, consumption expenditure is $5.0 trillion. What is the marginal propensity to consume?
What will be an ideal response?
How does the production possibilities frontier illustrate opportunity cost?
What will be an ideal response?
A newly-issued eighteen-year Treasury security can be stripped into __________ separate zero coupon securities
A) two B) eighteen C) thirty-seven D) seventy-three