Consumer sovereignty is mainly applicable to ______ economies.
a. traditional
b. centralized
c. command
d. market
d. market
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As a result of the financial crisis of 2007-2009, Freddie Mac and Fannie Mae were brought under the direct control of the government
Indicate whether the statement is true or false
Taxes that enhance economic efficiency will have a better chance of passing through Congress than less efficient tax reforms. _____
a. This is probably enough to produce an efficient tax system b. This is not enough to produce an efficient tax system c. This shows special interests have no impact. d. This shows that many government officials act in the public interest.
If Mexico's GDP drops, which of the following will happen in the market for pesos?
a. A rightward shift of the supply curve, a depreciation of the peso, and a larger number of pesos traded b. A rightward shift of the demand curve, a depreciation of the peso, and a smaller number of pesos traded c. A rightward shift of the demand curve, an appreciation of the peso, and a larger number of pesos traded d. A leftward shift of the demand curve, a depreciation of the peso, and a smaller number of pesos traded e. A leftward shift of the supply curve, an appreciation of the peso, and a smaller number of pesos traded.
It is difficult to know whether an economy is in or moving toward equilibrium because
a. an economy is always at rest, which is equilibrium b. the economy only changes when it moves from one equilibrium level to another c. our economy is always at full employment, which is regarded as an equilibrium position but changes in the rate of inflation at full employment suggest that it can surpass equilibrium d. there is always increasing inflation coupled with low productivity growth e. economic changes are continuous so that an equilibrium level is difficult, if not impossible, to identify