In a market economy, producers will produce the goods and services that
A. Optimize producer utility.
B. Consumers need the most.
C. Producers want to purchase.
D. Consumers demand.
Answer: D
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Collusion is a key type of cooperation for
A. maximizing revenue. B. monopolistic competition. C. becoming a monopoly. D. cartels.
If expected profit falls, the demand for loanable funds curve shifts ________, and the real interest rate ________
A) leftward; does not change B) leftward; rises C) leftward; falls D) rightward; falls E) rightward; rises
The marginal dollar cost to a patient of visiting a doctor when the patient's bill will be paid entirely by insurance is
A) the same as if the patient had no insurance. B) the value of the care not received by some other patient who couldn't get an appointment. C) zero. D) zero only if the patient does not pay the insurance premiums.
The following is not an example of adverse selection
a. you lock your garage when you have expensive workshop tools b. you are less careful when you buy a more expensive car c. Individuals tend to gamble more with their money when the future is certain d. you only go swimming when the lifeguard is on duty