Questions of what to produce, how much to produce, and who will get the output must be faced by
A. market economies.
B. centrally planned economies.
C. the economies of underdeveloped countries.
D. all economies.
Answer: D
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The demand for money is based on
A) the demand for consumption, demand for investment, and demand by government. B) the demand for cash, demand for securities, and the demand for real estate. C) a demand for liquidity and wealth. D) the transactions demand, asset demand, and precautionary demand.
The multiplier measures the:
A. effect of government spending or tax cuts on national income. B. number of times each dollar is spent in the economy. C. supply of money in the economy. D. effect of household spending on national income.
The taxing agency in your state would like to impose a sales tax in a way that minimizes deadweight loss. To achieve this goal it should tax:
A. all goods equally. B. goods but not services. C. goods whose supply and demand curves are relatively inelastic. D. goods that are relatively inexpensive.
The free floating exchange rate system has been in effect since
A. 1900. B. 1933. C. 1945. D. 1973.