The United States relies heavily on markets and so cannot be characterized as a mixed economy.
Answer the following statement true (T) or false (F)
False
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Economists assume that the goal of consumers is to
A) make themselves as well off as possible. B) do as little work as possible to survive. C) consume as much as possible. D) spend all their income.
Refer to Figure 9.1. GMB and VolgaBus compete to sell 100 buses to MetroTravel, a city-owned bus company. If sealed bids are required and no illegal activities occur, what will be the outcome? Explain the process.
What will be an ideal response?
Economic profits at the short-run break-even point are
A) positive. B) negative. C) equal to zero. D) indeterminate since they also depend on the size of the fixed costs.
Automatic destabilizing policies would tend to
A. decrease the nation's imports. B. reinforce inflationary pressures and deepen recessionary conditions. C. negate inflation and stimulate expansion. D. promote the nation's exports.