Which statement is false?
A. Under the United States' economic system, most of the important decisions are made in the market place.
B. In the United States' economy the price mechanism determines the answers to the United States' three basic questions-what, how, and for whom.
C. Most economists would agree that the price system leads to a very efficient allocation of resources.
D. None of these statements are false.
D. None of these statements are false.
You might also like to view...
Lower personal income taxes
A) decrease disposable income. B) decrease aggregate demand. C) increase transfer payments. D) increase aggregate demand.
For which of the following types of goods would the income elasticity of demand be positive and relatively large?
a. all inferior goods b. all normal goods c. goods for which there are many complements d. luxuries
If Howard takes out a $400 loan for one year at 5 percent interest annually, he will pay back a total of:
A. $420. B. $400. C. $440. D. $20.
The equation for the given saving schedule is:
A. Y d = -20 + .8S.
B. Y d = 20 + .2S.
C. S = -20 + .2Y d .
D. S = 20 + .8Y d .