Market systems are often referred to as "automatic" or "self-regulating" because they function
A) effectively even when no participant in the system plans ahead.
B) effectively in the absence of any laws.
C) effectively even when the society is breaking down.
D) without an overall, comprehensive plan.
E) without the intervention of human beings.
D
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Refer to Figure 24-2. Ceteris paribus, an increase in the capital stock would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Which of the following is closest to the definition of capital?
a. c and e. b. c and d. c. Tools, equipment, means of transportation d. Factories and machinery. e. Borrowed money.
Which statement is true?
A. Poverty has been a problem only since 1933. B. Poverty cannot be inherited. C. There are more poor Americans today than at any other time in our history. D. Poverty is less of a problem today than it was in the early 1960s.
With regard to capital budgeting decisions, when the initial cash investment is compared against the present value of cash returns from the next best alternative, it is referred to as
a. opportunity cost b. rate of return c. internal rate of return d. discounted payback rule e. net present value