Which of the following carries out the distribution process by rationing goods on the basis of preferences and relative incomes?
A. Administered system
B. Government
C. Price system
D. Central planning
Answer: C
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The argument that it is necessary to protect a new industry to enable it to grow into a mature industry that can compete in world markets is known as the
A) national security argument. B) diversity argument. C) infant-industry argument. D) environmental protection argument. E) national youth protection argument.
How do we show the short-run impact of an increase in spending growth in our aggregate demand and aggregate supply model?
A. The AD curve shifts to the right, and inflation and real growth both decrease along the SRAS curve. B. The AD curve shifts to the right, and inflation and real growth both increase along the SRAS curve. C. The AD curve shifts to the left, and inflation and real growth both decrease along the SRAS curve. D. The AD curve shifts to the left, and inflation and real growth both increase along the SRAS curve.
Describe the two major problems confronting U.S. agriculture.
What will be an ideal response?
________ must approve consent decrees, that is, formal agreements on remedies between all parties to an antitrust case.
A. Congress B. The Commerce Department C. The FTC D. Courts