Competition among sellers generates
A) productive efficiency.
B) allocative efficiency.
C) equity.
D) scarcity.
Answer: A
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Which of the following will improve your salary bargaining position
a. Wait until the large project you were integral to is completed b. Wait until your employer has hired many others with similar skills as yours' c. Wait until your employer has invested greatly into the long-term project you lead d. At the very outset of a project that you will lead
If scarcity were eliminated,
a. all goods would be free. b. no one would have to make any choices. c. everyone could have all they want at no cost. d. all of the above are true.
Which of the following forms of money is the least liquid?
A. dollars B. checking account deposits C. passbook savings D. certificates of deposit
According to the monetarists, deliberate government intervention:
a. will stabilize the economy if the money supply is increased during recessions and decreased during expansions. b. will effectively reduce the unemployment rate below its natural rate. c. will stabilize the economy if the money supply is reduced during recessions and increased during expansions. d. will destabilize the economy only if the government uses fiscal policy to change equilibrium income. e. will destabilize the economy and cause a business cycle of its own, regardless of whether fiscal or monetary policy is used.