The marketplace allocates resources
a. fairly.
b. efficiently.
c. to those desiring them least.
d. both efficiently and equitably.
b
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An industry in which economies of scale allow one firm to supply the entire market at the lowest possible cost is called a
A) legal monopoly. B) natural monopoly. C) single-price monopoly. D) one-firm monopoly.
Which of the following is unlikely to occur as a result of a price support program?
A) A reduction in consumer surplus B) A reduction in producer surplus C) An increase in quantity purchased D) An economic cost to government E) Improved economic efficiency
Throughout history, governments have used price controls to
a. protect buyers. b. protect sellers. c. serve the "public interest." d. All of the above are correct.
In which case(s) does(do) a country's supply of loanable funds shift left?
a. both an increase in the budget deficit and capital flight b. an increase in the budget deficit, but not capital flight c. capital flight, but not an increase in the budget deficit d. neither an increase in the budget deficit nor capital flight