________ increases economic efficiency because it forces firms to produce and sell goods and services as long as the additional benefit to consumers is greater than the additional cost of production
A) Competition
B) Voluntary exchange
C) Equity
D) A centrally planned economy
Answer: A
Economics
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The index that is not based on a fixed market basket of goods and services is the
A) CPI. B) PPI. C) Wholesale Price Index. D) GDP Price Deflator.
Economics
If firms in an oligopoly agree to produce according to the monopoly outcome, they will produce the same level of output as they would produce in a Nash equilibrium
a. True b. False Indicate whether the statement is true or false
Economics
The Fed seeks a target rate of inflation of around _____
Fill in the blank(s) with the appropriate word(s).
Economics
If the poverty line is set too low, the official poverty rate will be
A. unaffected by this problem. B. higher than the true level. C. lower than the true level. D. negative.
Economics