Economic systems:
A. provide all the goods people want and desire.
B. can eliminate scarcity.
C. address the questions what is produced, how it is produced, and for whom it is produced.
D. provide equal distribution of well-being among its participants.
Answer: C
You might also like to view...
The SDR (Special Drawing Rights) is issued by the
A) IMF. B) Federal Reserve Bank. C) European Monetary System. D) World Bank.
The multiplier measures the
A) number of steps it takes to move from one equilibrium to another. B) rise in saving resulting from a rise in income. C) marginal propensity to invest. D) rise in equilibrium GDP resulting from a one dollar rise in planned autonomous expenditures.
A government agency is having problems with personal telephone calls made during working hours. Because each minute of a personal call costs the agency $0.50 in wasted wages, it has decided to hire operators to monitor calls. The agency wants to hire the number of operators that will minimize the total cost of personal calls.
Based on the above information, if operators receive $400 a week, what is the lowest possible total cost of personal calls?
A. $1450 B. $1500 C. $650 D. $800
In the above figure, the total dollar amount of the Medicare subsidies provided by the government is equal to
A) the difference between Ps and P0 multiplied by QM. B) the difference between Ps and Pd multiplied by QM. C) the difference between P0 and Pd multiplied by Qd. D) the difference between Ps and Pd multiplied by Q0.