The market system is said to be characterized by "consumer sovereignty." This is because:
A. a large number of consumer goods are produced.
B. consumer goods are more profitable than investment goods.
C. the prices of consumer goods are regulated by government.
D. of the major role of consumers in determining what goods are produced.
Answer: D
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The direct cause of the hyperinflation that plagued Zimbabwe in the 2000s is ________
A) printing of too much money by the central bank B) government expenditures greatly above revenues C) outlawing of price increases on many commodities D) allowing the use of foreign currencies E) the issuance of a $100 billion bank note
The process of examining the numbers and determining what they mean, what the past was, and what the future will be for a company or entity is known as
a. finance b. budgeting c. economics d. accounting e. none of these
Which of the following is always correct in an open economy?
a. S = I b. S = NX + NCO c. S = NCO d. S = I + NCO
In the long run, prices in a monopolistically competitive industry ________ prices without trade.
a. will be higher than b. will be lower than c. will be equal to d. will be the same as