It is true that the distribution process carried out by the price system
A. accomplishes the task more efficiently than central planners would.
B. favors the rich.
C. is superior to other rationing mechanisms because it is able to pay attention to individual consumer preferences.
D. All of these responses are true.
Answer: D
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For an open economy, national savings can be:
A. more than investment. B. less than investment. C. the same as investment. D. All of these are true.
Suppose you read in the Irish daily the Dublin Telegraph that saving in Ireland in 2003 was precisely the intended investment Irish businesses had hoped to make. You would conclude that in 2003, the Irish economy was
a. not in equilibrium, and its national income fell b. not in equilibrium, and its national income rose c. in equilibrium, and its national income fell d. in equilibrium, and its national income rose e. in equilibrium, and no change occurred in its national income
Which of these records the value of international purchases and sales of stocks, bonds, real estate, businesses, and bank accounts?
a. Current account b. Capital account c. Official reserve account d. Savings account
Which is the single most important source of U.S. economic growth?
A. Stability of the sociocultural-political environment. B. Increases in labor productivity. C. Improvement in the legal and human environment. D. Increases in the quantity of labor.