Voluntary exchange between buyers and sellers generates ________ in a market economy
A) productive efficiency B) allocative efficiency
C) scarcity D) equity
B
Economics
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When national output declines, the economy is said to be in
A) an expansion. B) a deflation. C) an inflation. D) a recession.
Economics
Can insurance be thought of as diversification? Defend your answer
Economics
Suppose that the price of doughnuts decreases. Given that doughnut holes are a by-product of producing doughnuts, one would expect:
A. the supply of doughnuts to increase. B. the supply of doughnut holes to increase. C. the supply of doughnut holes to decrease. D. the supply of doughnuts to decrease.
Economics
If price is above the equilibrium price, then there will be:
A. excess supply. B. neither excess supply nor excess demand. C. excess demand. D. both excess supply and excess demand.
Economics