Which of the following is an example of a positive statement?
A) Prices determine what goods and services are produced in a market economy.
B) The government of the Soviet Union determined the three fundamental questions of microeconomics (i.e., what is produced, how it is produced, who receives the product).
C) The production of goods and services should be determined by market prices.
D) A and B
D
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Refer to Figure 10-6. A change in the price of popcorn only is shown in
A) Panel A. B) Panel B. C) Panel C. D) none of the above panels.
The following is NOT an example of a potential monitoring solution to moral hazard
a. a pre-hire typing test for clerical employees b. closed circuit TVs throughout a warehouse c. GPS tracking devices in repair trucks d. listening in on call center conversations
Which of the following is a reason why the labor demand curve would shift rightward?
a. A decrease in the amount of capital equipment b. An increase in educational attainment of the population c. A shift to earlier retirement d. An increase in population e. An increase in the number of two-family households
The use of money for exchange:
A. encourages more specialization in production. B. increases the importance of a coincidence of wants. C. increases the use of barter. D. reduces consumer sovereignty.