When allocating resources using market price
A) everyone who is willing and able to pay for a good gets one.
B) everyone who wants a good gets one.
C) everyone who is willing to pay for a good gets one.
D) everyone who is able to pay for a good gets one.
A
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Country X and Country Y are two neighboring countries which are experiencing recession. The government of Country X reduced its expenditure during the recession while Country Y's government increased the supply of money in the economy
Which of the two policies will help the economy to recover from the recession?
Prospect theory implies that individuals are risk loving over losses and risk averse over gains.
Answer the following statement true (T) or false (F)
Table 8-2 Price Quantity Total Cost$22 6$ 60 2010100 1816160 1621210 1428280? In Table 8-2, the profit-maximizing level of output is
A. 6 B. 10 C. 16 D. 21
In economics, secondary effects refer to the
A) immediate and highly visible intended consequences of an action or policy change. B) value of the goods that an individual must give up as the result of choosing an alternative. C) indirect effects that often result from an action or policy change. D) value of a good derived by the consumer.