________ is among the ingredients of "a first-rate financial system."
A) Government-directed credit to key economic sectors
B) Greater efficiency of state-owned banks
C) Legal reform to strengthen financial contracts
D) Saving rates of 20% or more
C
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After eating four slices of pizza, you are offered a fifth slice for free. You turn down the fifth slice. Your refusal indicates that the
A. marginal benefit for the fifth pizza slice is less than its marginal cost. B. marginal benefit for the fourth pizza slice is negative. C. total benefit for the fifth pizza slice is negative. D. marginal benefit for the fourth slice is the largest among all slices.
The oldest theory of comparative advantage is based on:
a. factor abundance. b. productivity differences. c. product life cycles. d. preferences. e. human skills.
In the Soviet Union, most goods and services were produced by __________________.
Fill in the blank(s) with the appropriate word(s).
In a market economy, ________ interact in markets to decide the answers to the fundamental economic questions
A) state and local governments B) large corporations C) households and firms D) the judicial and legislative branches of the federal government