The market and public sector are similar in that
A) there is competition amongst the participants in both sectors.
B) the resources used in both sectors are scarce.
C) the participants in both sectors react to incentives.
D) All of the above are true.
D
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Last week, 13 Mexican pesos could purchase one U.S. dollar. This week, it takes 11 Mexican pesos to purchase one U.S. dollar. This change in the value of the dollar will ________ exports from the United States to Mexico and ________ U.S
aggregate demand. A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
The voting paradox suggests that the "voting market," as represented by elections
A) leads to a superior outcome in representing consumer preferences compared to the private market for goods and services. B) is no different from the private market for goods and services in terms of representing consumer preferences. C) may not lead to an efficient outcome but certainly leads to a more equitable outcome in terms of distributing goods and services. D) may often lead to an inefficient outcome in representing consumer preferences compared to the private market for goods and services.
When the housing price bubble burst, there were some obvious effects on the economy, and some that were not so obvious. Explain these
An aggregate supply curve indicates the quantities of real GDP supplied at different ______ levels.
a. interest rate b. wage c. price d. stock market