Answer: d. All of the above are correct.
In communism, central planners decide which of the following?
a. what goods and services will be produced
b. how much will be produced
c. who will produce and consume the goods and services
d. All of the above are correct.
Economics
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Most economists believe the LM curve to be
A) horizontal most of the time. B) upward-sloping. C) vertical. D) downward-sloping.
Economics
Social Security payments:
A. now hold their value over time. B. are adjusted for inflation using the CPI. C. undergo cost-of-living adjustments. D. All of these statements are true.
Economics
The cost of offering safe versus risky jobs in the highway construction industry vary across firms. In the end, we would expect the market equilibrium to
A. have firms that face a high cost of offering safe jobs to pay the lowest wages. B. randomly match workers to jobs. C. have firms randomly choose their level of safety. D. match workers who dislike risk to the highest paying jobs. E. match workers who dislike risk to firms that find it cheapest to offer safe jobs.
Economics
Economists use the term "marginal utility" to describe the
A) total satisfaction received from consumption of a good. B) change in total satisfaction caused by consumption of an additional unit of a good. C) price paid for every unit consumed. D) average utility of each unit of a good consumed. E) inverse of the measure of total utility.
Economics