In which system are decisions made by thousands of people who have information about resources, production technology and consumer desires?
A) market system B) socialist system
C) centrally planned system D) command system
A
You might also like to view...
In the open-economy Keynesian model, it always has to be true that
a. planned savings equals planned investment. b. planned savings is greater than planned investment. c. planned savings is less than planned investment. d. none of the above.
Inclusive property rights provide an investor:
a. more options and greater incentives to avoid inefficient choices. b. an insight to future earnings and revenue generation. c. a definite return on the investment. d. cost effective techniques of production leading to economies of scale.
What is the main function of leading indicators?
a. They provide information about the direction in which an economy might be moving in the short term future. b. They reveal important structural deficiencies in an economy and are therefore useful for predicting long-term economic growth potential. c. The index of leading indicators is the key measure of a nation's economic growth and development. d. They show how to correct economic recessions and/or hyperinflation. e. Leading indicators are exclusively used by central bankers to help them determine the monetary base.
Greg's Ice Cream produces 1120 gallons of ice cream per day. Each employed works seven hours and has productivity of 20 gallons an hour. How many employees does Greg's employ?
a. 160 b. 56 c. 8 d. None of the above is correct.