Which of the following is true in a market economy?
A. Central planners determine answers to the basic economic questions.
B. Resources are used efficiently.
C. The distribution of wealth is equal.
D. Information for production and distribution decisions pass directly to buyers from the government.
Answer: B
You might also like to view...
If a person without a job is not actively looking for work, that person is classified as not being in the labor force
Indicate whether the statement is true or false
A shift of the MP curve ________
A) implies an automatic adjustment of the interest rate B) implies a direct policy action of the Federal Reserve C) does not alter the relationship between inflation and the interest rate D) all of the above E) none of the above
The demand for spring break vacations is _________________ than is the demand for textbooks because ________________.
A. less price elastic; vacations have more available substitutes. B. more price elastic; vacations have less available substitutes. C. less price elastic; vacations are more of a luxury. D. more price elastic; vacations are more of a luxury.
The balance of payments always balances, because each of the specific accounts must, by definition, be in balance
a. True b. False