Ideally, a price system allows
A. government policy makers to allocate resources to the uses which they consider to be in the best interests of society.
B. resources to move from lower-valued uses to higher-valued uses through voluntary exchange.
C. consumers to satisfy all their wants.
D. firms to act in such a way that they eliminate scarcity.
Answer: B
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The largest category of the unemployed are
A) job losers. B) reentrants. C) job leavers. D) new entrants.
The interest rate:
A. is the price of borrowing money for a specified period of time. B. is expressed as a percentage per dollar borrowed and per unit of time. C. determines the total amount that must be paid back on a loan. D. All of these are true.
In order to raise the most revenue, the government is better off taxing the producers of a good for which demand is elastic
Indicate whether the statement is true or false
Which one of the following is a cash-assistance program used to fight poverty in the United States?
a. Medicaid b. food stamps c. home energy assistance d. Head Start e. Temporary Assistance to Needy Families