The Austrian school of economists stressed on the efficiency of the markets on the pretext that:
a. resources could be efficiently allocated through price system and free markets.
b. governmental intervention was necessary for the efficient allocation of resources.
c. the price charged under the free market system was always lower than under central planning.
d. the market had never failed earlier.
e. the market did not suffer from imperfect information.
a
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A single-price monopoly has marginal revenue and marginal cost equal to $19 at 15 units of output where the price on the demand curve is $38. At what price will this firm sell the output?
A) $19 B) $38 C) $285 D) $570 E) There is not enough information given to answer the question.
Each price-quantity combination on a consumer's demand curve shows the utility-maximizing quantity at the given price
Indicate whether the statement is true or false
What additional complexities arise when multinational corporations consider capital projects on a global basis?
What will be an ideal response?
If the Fed buys $150 billion of U.S. bonds in the open market and the reserve requirement is 5 percent, M1 will eventually
A. Decrease by $3,000 billion. B. Increase by $3,000 billion. C. Increase by $300 billion. D. Decrease by $300 billion.