A mixed economy
a) allocates resources according to supply but not demand.
b) allocates resources according to demand but not supply.
c) allocates resources according to demand and supply.
d) allocates resources according to market forces and government intervention.
Answer: d) allocates resources according to market forces and government intervention.
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a. diagonal location of the point. b. vertical location of the point. c. horizontal location of the point. d. quadrant location in which the point is located.
Macroeconomics helps explain economic fluctuations, why the economy shrinks and expands and why some of the economy's resources are idle.
Answer the following statement true (T) or false (F)
With respect to production, the short run is best defined as a time period
A) lasting about six months. B) lasting about two years. C) in which all inputs are fixed. D) in which at least one input is fixed.
At what level of disposable income is saving equal to zero?
