The allocation of resources is efficient under an idealized free market system
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In Figure 6-3(a), demand is
A. perfectly elastic. B. perfectly inelastic. C. unit elastic. D. fixed at one particular quantity.
An increase in population can be expected to
a. increase the marginal product of land. b. decrease the supply of land. c. decrease the rents on land. d. decrease the demand for land.
When prisoners use cigarettes or some other good as money, cigarettes become
a. commodity money, but do not function as a unit of account. b. commodity money and function as a unit of account. c. fiat money, but do not function as a unit of account. d. fiat money and function as a unit of account.
the price of one good in comparison with the price of other goods
What will be an ideal response?