The price system
A) is the voluntary exchange system used in the United States.
B) is old fashioned and is no longer used.
C) is used only in countries that are developing.
D) is used to set resource prices only.
A
You might also like to view...
Which statement is true?
A. All regions of the United States were primarily agricultural in 1865. B. Only the South was primarily agricultural in 1865. C. Only the North and West were primarily agricultural in 1865. D. None of the statements are true.
During 1970-1997, the U.S. federal government was
A) in deficit every year. B) in surplus every year. C) in deficit most of those years. D) balanced every year.
The different effects of fiscal and monetary policy in an open economy with mobile capital hinges on their different effect on
A. price levels. B. interest rates. C. the money supply. D. real GDP.
In general, changes in the price level will change the:
A. real value of people's wealth and income. B. nominal value of consumption goods and the real value of durable goods. C. nominal value of cash balances. D. real value of consumption goods only.