_______ ensure that resources are allocated to where they are most highly valued
a. Communist governments
b. Consumers
c. Suppliers
d. Non-governmental organizations
e. Markets
e
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Which of the following countries had the lowest GDP per capita in 2014?
A) Central African Republic B) Mexico C) France D) Argentina
Households ________ factors of production and ________ goods and services
A) demand; supply B) demand; demand C) supply; supply D) supply; demand
Under perfect competition, the average revenue curve of the firm coincides with its average cost curve
a. True b. False Indicate whether the statement is true or false
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.