Which of the following is a correct statement about a mixed economy?
a. in a mixed economy, most economic decisions are made in markets but the government plays a significant role in the allocation of resources.
b. in a mixed economy, most economic decisions are made by the government but markets plays a significant role in the allocation of resources.
c. in a mixed economy, all economic decisions are made in markets.
d. in a mixed economy, the government makes all economic decisions.
Answer: a. in a mixed economy, most economic decisions are made in markets but the government plays a significant role in the allocation of resources.
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Answer the following statement(s) true (T) or false (F)
1. When a monopoly supplier acquires a monopoly manufacturer, the vertical merger intensifies the supplier's use of monopoly power over the manufacturer. 2. A buy-out is more likely to delay a rival's reemergence than is predatory pricing. 3. Economic analysis suggests that resale price maintenance is primarily used by manufacturers to keep prices artificially high. 4. A firm has the incentive to cheat on a cartel agreement only when it fears that other cartel members will also cheat. 5. The Prisoners' Dilemma game is another situation where the Invisible Hand Theorem is true.
The 1987 study by Bowen, Leamer and Sveikauskas
A) supported the validity of the Leontief Paradox. B) supported the validity of the Heckscher-Ohlin model. C) used a two-country and two-product framework. D) demonstrated that in fact countries tend to use different technologies. E) proved that the U.S.'s comparative advantage relied on skilled labor.
The higher the interest rate, the greater the preference for liquidity
a. True b. False Indicate whether the statement is true or false
Fixed costs are best defined as
A. costs that will not vary with the firm's output level over some period of time. B. costs that are paid on a yearly basis rather than a weekly or monthly basis. C. costs of inputs that cannot be moved, such as real estate. D. costs that will last as long as the firm exists.