Why is wage and price flexibility crucial to the idea of the "invisible hand?"
What will be an ideal response?
Wage and price flexibility is crucial because in a free-market system, changes in wages and prices are the signals that coordinate the actions of people and businesses in the economy.
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The table below shows a pizzeria's fixed cost and variable cost at different levels of output. Pizza's sell for $20 each.Number ofPizzas Per DayFixed Cost($/Day)Variable Cost($/Day)050002550015050500250755004501005008501255001,650When the pizzeria makes 125 pizzas per day, its total revenue is:
A. $2,500 B. $125 C. $1,250 D. $20
Which of the following countries experienced hyperinflation during the 1920s?
A) The United States B) Canada C) Germany D) England
Compared to a pollution? tax, a? uniform-abatement policy is less efficient because it does not exploit differences in??
Compared to a pollution? tax, a? uniform-abatement policy is
less
efficient because it does not exploit differences in??
A.
output levels across firms.
B.
the level of environmental concern across firms.
C.
abatement costs across firms.
Your answer is correct.
D.
all of the above.
Industrially advanced countries can best help DVCs by:
A. Directing requests from DVCs for aid to the World Bank B. Using the International Monetary Fund to determine exchange rates in DVCs C. Increasing management control over development projects D. Adopting policies that expand trade with DVCs