The market system provides a way
A. to allow specialization and exchange to work in tandem.
B. to improve the well-being of mankind.
C. to harness self-interest.
D. to allocate goods and services.
E. All of the responses are correct.
Answer: E
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Assume that in an economy with 200M inhabitants, 90M work, 4M are looking for a job, 3M receive unemployment insurance compensation, and 6M receive unemployment insurance compensation and are looking for a job. What is the participation rate?
A) 51.5% B) 50% C) 45% D) 38.5%
Which of the following topics is a macroeconomic subject?
A) a proposed merger between two companies B) the level of sales at a particular department store C) increases in the overall price level of the United States D) the decision of an automobile manufacturer
If I worry that if I cut my price, you will cut yours, then I am acting as if we are interdependent
Indicate whether the statement is true or false
Whether you are studying the money economy of the U.S., Pakistan, China, or the Federated States of Micronesia, the characteristics that money must have include
a. portability, durability, and flexibility b. durability, flexibility and readily acquired c. durability, portability, and heterogeneity (nonhomogeneous) d. portability, durability and relative scarcity e. portability, homogeneity, and flexibility