Economic efficiency in a free market occurs when
A) producer surplus is maximized.
B) price is as low as possible.
C) consumer surplus is maximized.
D) the sum of consumer surplus and producer surplus is maximized.
D
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Commodity speculators persuade people to start economizing in their consumption of a good as soon as the speculators foresee an increased future scarcity by causing
A) futures prices, expected future prices, and current prices to fall. B) futures prices, expected future prices, and current prices to rise. C) futures prices and expected future prices to fall and current prices to rise. D) futures prices to rise, expected future prices to fall, and current prices to rise. E) futures prices and expected future prices to rise and current prices to fall.
A surplus will cause pressure on the price to fall.
a. true b. false
If a country's income is rapidly increasing it must:
A. have a high level of growth. B. be well-endowed with natural resources. C. have a lot of room to expand. D. have a high level of income.
Health care spending in the next ten years is projected to grow at an annual rate of about:
A. 2% B. 6% C. 14% D. 20%