(Last Word) According to economist Donald Boudreaux:
A. private property eliminates the possibility that resource arrangements will be random.
B. the market system threatens to do irreparable harm to the world's ecosystem.
C. arranging resources under the market system is much like shuffling a deck of cards.
D. the market system works wondrously for advanced industrial nations but not for developing
nations.
Answer: A
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A) up; up B) up; down C) down; up D) down; down
If you have flipped a fair coin and tails has come up 49 times in a row, what are the odds that the next flip will be a tail?
A) 0 B) 1/50 C) 1/25 D) 1/2
Which of the following is an incorrect statement? a. An economy with many unemployed workers and idle factories is not operating efficiently. b. Idle factories represent unemployed capital resources
c. A large amount of unemployed resources will shift the production possibilities curve outward. d. Idle farms represent unemployed land resources.
IF a period of substantial inflation, increasing gov. spending would _________
Fill in the blank(s) with the appropriate word(s).