The price system rations goods among consumers in such a way that
a. all are treated equally.
b. all needs are satisfied.
c. the rich are favored.
d. important needs are satisfied first.
c
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Refer to the information provided in Table 22.6 below to answer the question(s) that follow.
Table 22.6
Refer to Table 22.6. If 2015 is the base year, the inflation rate between 2015 and 2016 is
A. 13.8%. B. 12.2%. C. 9.4%. D. 7.0%.
Monetarists argue that the crowding-out-effect is rather large. True or False
The Farm Factory, a booth at the local Farmer's Market, sells fresh eggs for $1.50 per dozen and fresh milk for $2.50 per gallon. What is the opportunity cost of buying a gallon of milk?
A) 3/5 of a dozen eggs B) $1.50 C) 1 2/3 dozen eggs D) $2.50
What role might contests among superstars play in accounting for income inequality?
What will be an ideal response?