In a market economy, the allocation of the quantity supplied of any good among demanders is determined by
a. the needs of the individuals.
b. the sellers.
c. the market price.
d. government regulations.
e. a random process.
c. the market price.
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With the exception of during recessions, workers in Canada are eligible for unemployment benefits for about twice as long a period of time as workers in the United States. As a result,
A) frictional unemployment is higher, on average, in the United States than in Canada. B) the opportunity cost of job search in Canada is lower than in the United States. C) the average duration of unemployment is longer in the United States than in Canada. D) the unemployment rate in Canada is usually higher than in the United States.
A rise in price (prod quota)
What will be an ideal response?
Which statement describes the advantage of operating a sole? proprietorship?
A. An important financial advantage in many sole proprietorships is the opportunity to share costs. B. In a sole? proprietorship, the owner and the business are legally inseparable. C. Sole proprietors have more privacy and generally are not required to report anything to anyone. D. Sole proprietorships are? liquid, which also helps give them a long life? span; when shareholders sell or bequeath their? shares, ownership simply passes to a new? generation, so to speak. E. Sole proprietorships have the ability to pool money by selling shares of stock to outside investors.
Free entry and exit of firms is a characteristic of:
A. perfectly competitive industries. B. all industries in the U. S. economy. C. centralized economies. D. industries in which firms are earning positive economic profit.