The distribution process performed by the price system is not as efficient as the distribution process of central planners.
Answer the following statement true (T) or false (F)
False
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Suppose the government's initial debt is $400 billion. If for the next three years the government runs deficits of $150, $125, and $200 billion, the government's additional debt at the end of the three years will be
A) -$50 billion. B) $50 billion. C) $475 billion. D) $900 billion.
A sunk cost is a cost that has already been paid and cannot be recovered
Indicate whether the statement is true or false
What happens when the Fed aims to change interest rates?
A) It asks Congress to legislate new interest rates. B) It buys or sells government bonds on the open market to achieve the desired rate. C) It buys or sells dollars on the foreign exchange market to achieve the desired rate. D) It announces a new discount interest rate.
A natural monopoly is a market where:
a. a single firm has control over a vital natural resource. b. many smaller firms can produce the entire market output at the same per-unit cost as could one large firm. c. a single large firm can produce the entire market output at a lower per-unit cost than a group of smaller firms. d. many smaller firms can produce the entire market output at a lower per-unit cost than could one large firm.