List nine characteristics of the market system
Please provide the best answer for the statement.
The six characteristics discussed in the text are: (1) private property; (2) freedom of enterprise and choice; (3) self-interest as the major motivation for economic activity; (4) competition among buyers and sellers; (5) reliance on the market (price) system; (6) the use of advanced technology and large amounts of capital goods; (7) specialization; (8) the use of money rather than barter; and (9) a limited role for government.
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Between 1994 and 2000 the poverty rate ____ and the number of people on welfare ______.
A. declined; declined B. rose; rose C. rose; declined D. declined; rose
C = $750 + 0.75(1 - 0.4)y i = $600 g = $500 nx = -$50
Use the above data to: a. Calculate the equilibrium level of GDP b. Calculate the value of the expenditure multiplier c. Find the change in the initial equilibrium GDP if autonomous investment increases by $75. d. Find the change in the initial equilibrium GDP if autonomous government purchases decreases by $50. e. Find the change in the initial equilibrium GDP if autonomous net exports increase by $10.
Assume a consumer has a horizontal demand curve for a product. His consumer surplus from buying the product
A) is maximized. B) can't be calculated. C) equals zero. D) Need more information.
When the price level falls
a. people want to hold less money. b. the interest rate falls. c. investment spending rises. d. All of the above are correct.