Which of these statements does not apply to market economies?
a. Prices prevent decentralized decision making from degenerating into chaos.
b. Prices coordinate the actions of millions of people with varying abilities and desires.
c. Prices ensure that anyone who wants a product can get it.
d. Prices ensure that what needs to get done does in fact get done.
c
You might also like to view...
An excise tax shifts the supply curve
A. by rotating it counter-clockwise. B. down by the amount of the tax. C. up by the amount of the tax. D. by rotating it clockwise.
Adding the quantities demanded by all consumers at every price will yield
A. the number of consumers. B. the market-clearing price. C. the market demand curve. D. the total substitution effect from a price change.
The threat of a Greek exit from the euro system
A. left Greek banks bankrupt. B. led to the exit of Spain from the euro. C. increased the viability of the Greek exit. D. spurred economic activity in Greece.
Individuals are allowed to deduct a percentage of their expenditures for health care from their taxable income if these expenditures are above a certain amount. This reduces the amount that must be paid in taxes. Allowing for these deductions would improve ________ of the federal income tax.
A. both vertical and horizontal equity B. the progressivity C. the horizontal equity D. the vertical equity