The invisible hand of the marketplace acts to allocate resources
a. efficiently but does not necessarily ensure that resources are allocated fairly.
b. both fairly and efficiently.
c. fairly but does not necessarily ensure that resources are allocated efficiently.
d. neither fairly nor efficiently.
a
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Arguments against the balanced budget amendment include all of the following EXCEPT
A) a balanced budget amendment would turn control of the federal budget over to the Judicial Branch. B) a balanced budget amendment would induce Congress to issue more mandates to states to increase spending. C) a balanced budget amendment would reduce the taxation burden on future generations. D) a balanced budget amendment would limit Congress from using fiscal policy during a recession.
A straight-line demand curve has an elasticity that becomes smaller as we move from left to right along the schedule.
Answer the following statement true (T) or false (F)
Patents ________ permit investors to have a monopoly on their innovation and ________ permit them to earn economic profit.
A) do not; do not B) do; do not C) do; do D) do not; do
Import controls in Mexico ____________
a. will ease the pressure on Mexico's foreign exchange reserves if its exchange rate is fixed b. are illegal c. reduce tariffs d. are designed to float the exchange rate e. reduce quotas