A problem with the use of the market system is that
a. it is too careful in conserving society’s resources.
b. it does not stimulate people to work hard and to be efficient.
c. it results in an unequal distribution of property and income.
d. All of these.
c. it results in an unequal distribution of property and income.
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Can real standards of living go up without any positive economic growth?
Refer to Table 2.3. Assume that 2010 is the base year. Real GDP in 2010 is
A) $490.00. B) $580.00. C) $671.00. D) $812.00.
Which of the following is a possible cause of a rightward shift in the supply of healthcare?
a. A fall in the price of resources used to produce healthcare products b. An increase in the price of resources used to produce healthcare products c. A fall in the profit expectations of healthcare providers d. A fall in the number of suppliers of healthcare e. An expectation of an increase in the price of healthcare products in future
If an economy produces 2,000 units of output with a price level of $1 and the money supply (M) is $1,000, velocity is:
A. 2. B. 500. C. 50. D. 5.