The phenomenon which occurs when markets do not produce the most efficient outcome on their own is known as
A) market failure. B) imperfect information.
C) economic certainty. D) public goods.
A
You might also like to view...
All of the following are deficit items in the balance of payments accounts EXCEPT
A) U.S. residents purchases of gold from foreign residents. B) U.S. tourists spending funds in Europe. C) exports of merchandise. D) U.S. purchases of foreign companies' stocks and bonds.
If the Fed wants to shift toward a more expansionary policy, it often announces that it is going to change the federal funds interest rate. The Fed controls the federal funds interest rate
a. by imposing legal restrictions that prohibit exchanges at interest rates other than the ones designated by the Fed. b. by having the U.S. Treasury fix this interest rate c. through its policy of open market operations. d. by altering the size of the federal budget deficit or surplus.
A change in the money wage rate shifts
What will be an ideal response?
Marginal utility can be thought of as
A) the incremental change in a person's total satisfaction level from the consumption of a good. B) the total change in satisfaction from buying a good. C) the additional cost of that next good purchased. D) the opportunity cost of buying the next good.