In the allocation of resources between present and future
a. the market works imperfectly.
b. the market works perfectly.
c. centrally planned economies are more efficient than market economies.
d. the invisible hand guarantees efficiency in market economies.
a
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A minimum wage set above the equilibrium wage rate has no effect
Indicate whether the statement is true or false
When firms exit a perfectly competitive industry, the market supply curve shifts to the left
Indicate whether the statement is true or false
When disposable income is 3750, the APC is about
A. .3.
B. .45.
C. .6.
D. .75.
Indirectly, overvalued exchange rates in Latin America caused
A) a capital shortage in agriculture. B) a capital shortage in industry. C) a capital abundance in agriculture. D) an increase in competitive pressures faced by industry.