Efficient financial institutions foster the flow of:
A. Saving and investment
B. Spending and income
C. Resources and products
D. Inventions and ideas
A. Saving and investment
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Frederick Taylor
a. studied the movements of workers as they performed job tasks. b. advocated the use of incentives for superior performance. c. carried on experiments to determine the optimum size and weight of tools. d. developed principles pertaining to the correct routing of work and accurate scheduling of production orders. e. All of the above.
The role that prices play in directing resources away from overcrowded markets and towards markets that are underserved is known as the ________ function of price.
A. allocative B. rationing C. market D. transitive
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.
The book cites a result where after of the implementation of the congestion tax in Stockholm, Sweden of $1.50-$3.00, traffic volume was reduced and travel time for cars and buses was cut in half. This is an example of:
A. responding to incentives. B. the role of pricing in allocating resources. C. caveat emptor. D. comparative advantage.