The market economy is regarded as "efficient" in that:
A. It achieves the lowest rate of unemployment
B. It leads to the lowest level of poverty in the society
C. It directs resources towards products that the society wants most
D. It puts the best people in government positions
Answer: C
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To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
A dividend is the
A. corporation’s periodic payments to bondholders. B. the monthly compensation to the corporation’s board of directors. C. a payment of some of the corporation’s profits to its stockholders. D. a payment made to banks and other sources of funding for the corporation.
If a firm decreases production, then its:
A. variable costs decrease. B. fixed costs decrease. C. total costs stay the same. D. None of these is true.
The "WIN" button approach to breaking a wage-price spiral was proposed by President Nixon to a joint session of Congress
a. True b. False Indicate whether the statement is true or false