The price system takes into account consumer preferences in the distribution of goods and services
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
A cartel is:
a. a joint venture of two companies. b. a joining of firms for the purpose of fixing prices and controlling output. c. a breaking up of a company into two or more parts. d. the joining of industry with government to solve a specified problem. e. the joining of two firms with unrelated products.
According to the IGM poll, most economists think that the benefits of ARRA exceeded the costs
a. True b. False Indicate whether the statement is true or false
Suppose consumer income increases. If grass seed is a normal good, the equilibrium price of grass seed will
a. decrease, and producer surplus in the industry will decrease. b. increase, and producer surplus in the industry will increase. c. decrease, and producer surplus in the industry will increase. d. increase, and producer surplus in the industry will decrease.
Which of the following will be the most likely impact of an unanticipated increase in the money supply?
What will be an ideal response?