Comparing the United States to other economies, the United States is one of the ____ economy in the world
a. most government-supervised
b. most privatized
c. most government-owned
d. least privatized
b
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Equilibrium expenditure is
A) the amount of aggregate expenditure at which aggregate planned expenditure exceeds real GDP. B) the amount of aggregate expenditure at which aggregate planned expenditure equals real GDP. C) when unplanned inventory change is positive. D) when unplanned inventory change is zero or negative. E) the amount of aggregate expenditure at which aggregate planned expenditure is less than real GDP.
Which of the following carries out the distribution process by rationing goods on the basis of preferences and relative incomes?
A. Administered system B. Government C. Price system D. Central planning
Total revenue for a seller represents the amount that:
a. sellers receive for a good or service which is computed as P ÷ Q. b. sellers receive for a good or service which is computed as P Q. c. one buyer spends on a good or service which is computed as P Q. d. one buyer spends on a good or service which is computed as P ÷ Q.
A superior level of technology is an important reason the productivity of workers in rich countries is high
a. True b. False Indicate whether the statement is true or false