Economic losses are a signal to producers
A. That consumer demand is being satisfied.
B. That they are not using resources in the best way.
C. That consumers are content with the allocation of resources.
D. That they are using resources in the most efficient way.
Answer: B
You might also like to view...
A two-part price is less efficient than a Ramsey
Indicate whether the statement is true or false
If a tripling of price triples the quantity of a good supplied, the price elasticity of supply for this good is:
A. 3. B. 300. C. 1. D. ?1.
Suppose Dana purchases an iTune download of her favorite song. This purchase has taken place in the
A. factor markets. B. resource markets. C. product markets. D. black markets.
Which of the following statements is true?
A. The Federal Reserve sets the federal funds rate. B. The Federal Reserve sets the target for the federal funds rate, and then uses the reserve ratio to push banks toward that target. C. The Federal Reserve does not set the federal funds rate, but it influences it through the use of its open-market operations. D. The Federal Reserve will set a higher target for the federal funds rate if pursuing an expansionary monetary policy.