Economists argue that which allocation scheme leads to the most efficiency?
A) market based.
B) government based.
C) random.
D) first-come, first-serve.
A
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A local pizzeria raised its price from $9 to $11 for each pizza and the sales of its pizza decreased from 150 to 100 per day. What is the price elasticity of demand in this case?
A) 1/2 B) -2 C) -1/2 D) 2
Until recently, many developing countries
A) encouraged foreign direct investment but discouraged foreign portfolio investment. B) sealed themselves off from foreign investment. C) were quite open to foreign investment. D) encouraged foreign portfolio investment but discouraged foreign direct investment.
The lemons problem is due to
A) asymmetric information. B) moral hazard. C) hidden actions. D) symmetric information.
Other things equal, an increase in government spending shifts
A. the AD curve to the left. B. the AS curve to the right. C. the AS curve to the left. D. the AD curve to the right.