In economics, the purpose of competition is to:
A. ensure that every firm survives.
B. motivate firms to make the highest possible profit.
C. prevent unemployment.
D. motivate firms to make better goods at lower cost.
Answer: D
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When the Fed wants US interest rates to increase, it will usually sell US t-bonds to banks
a. true b. false
Refer to the above figure. If the government imposes a price ceiling of $60
A. the quantity traded will be 150, and the price will be $60. B. the quantity traded will be 150, and the price will be $40. C. the quantity traded will be 100, and the price will be $60. D. the quantity traded will be 200, and the price will be $60.
Laws and courts tend to make markets work ________ and make society ________
A) less effectively; poorer B) less effectively; richer C) more effectively; poorer D) more effectively; richer
Why does adverse selection occur in the health insurance market?
What will be an ideal response?