For which of the following questions would consumer sovereignty provide an answer?
a. Will a shovel or bulldozer be used to excavate the ground?
b. Should the government provide trash collection services in the community?
c. Should we have universal health coverage provided by the government?
d. Will large or small cars sell the most this year?
e. Should there be numerous competitors offering long-distance phone service to the consumer?
D
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A major economic
A) benefit of fixed exchange rates is that they simplify economic calculations and provide a more predictable basis for decisions that involve international transactions than do floating rates. B) benefit of floating exchange rates it that they simplify economic calculations and provide a more predictable basis for decisions that involve international transactions than do fixed rates. C) cost of fixed exchange rates it that they simplify economic calculations and provide a more predictable basis for decisions that involve international transactions than do currency board rates. D) benefit of flexible exchange rates it that they simplify economic calculations and provide a more predictable basis for decisions that involve international transactions than do crawling peg rates. E) benefit of fixed exchange rates is that the value of goods will remain constant across a large region of consumers.
In the long run, all factors of production are
A) variable. B) fixed. C) materials. D) rented.
We may not be able to predict the outcome of a two-player game when
a. each player follows a strategy that negates the strategy of the other player b. price exceeds marginal cost c. neither player has a subsistence strategy d. neither player has a dominant strategy e. at least one player has a bilateral strategy
Recently, the U.S. national income accounts have switched to calling government purchases
a. government spending and transfer payments. b. transfer payments and gross investment by government. c. government consumption expenditure and gross investment. d. government wages, salaries, and investment expenditure.