The economic functions of the government deal with
A. making sure supply equal demand.
B. excess demand.
C. promoting economic efficiency.
D. discouraging smoking in youths.
Answer: C
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Refer to Table 2-16. Estonia has a comparative advantage in the production of
A) cell phones. B) both products. C) lumber. D) neither product.
Although most slaves came to the colonies before 1776, the majority of other types of labor came to North America voluntarily
Indicate whether the statement is true or false
Wendy's restaurants must decide whether to grow their own potatoes for French fries or buy them. If they buy rather than grow, then they have opted to
a. integrate horizontally b. allow market prices to guide resource allocation c. integrate vertically d. allow hierarchical control to guide resource allocation e. form an authority relation
The Economist magazine's Commodities Price Index tracks the prices of the most:
A. important finished goods that are traded internationally. B. important minerals that are traded internationally. C. important productive resources that are traded internationally. D. heavily traded agricultural-based products.