Which fundamental question about a competitive market system primarily focuses on technological progress and capital accumulation?
A. Who will get the goods and services?
B. How will the goods and services be produced?
C. How will the system promote progress?
D. What goods and services will be produced?
Answer: C
You might also like to view...
Refer to Figure 5-7. What is the incremental cost of increasing the quantity of pollution reduction from QB to QE units?
A) the value of the area QBBEQE B) PF × QE C) the value of the area BEF D) PF
A Herfindahl-Hirschman Index is calculated by
A) summing the amount of sales by the four largest firms and dividing by total industry sales. B) summing the squares of the market shares of each firm in the industry. C) dividing the number of firms wanting to merge by the total number in the industry. D) dividing the advertising expenditures of the firms that want to merge by total industry advertising expenditures.
A, B, and C have the following preferences for fruits: A: apples > bananas > peaches > pineapples B: bananas > apples > pineapples > peaches C: apples > pineapples > peaches > bananas Use the Borda Count method to determine the most preferred fruit
a. Apples b. Bananas c. Peaches d. Pineapples
If an economy's consumption spending is $5 trillion, investment is $2 trillion, government spending is $1 trillion, net taxes are $1 trillion and household saving is $2 trillion, total income is
a. $3 trillion b. $5 trillion c. $7 trillion d. $8 trillion e. $11 trillion