Which of the following is a principle concerning how people interact?
a. Markets are usually a good way to organize economic activity.
b. Rational people think at the margin.
c. People respond to incentives.
d. All of the above are correct.
a
You might also like to view...
Which of the following may partially reduce the geographical disadvantages faced by poorer countries?
A) Limiting the use of natural resources so that they can be preserved for future uses B) Transferring technology from richer to the poorer countries C) Restricting the immigration of skilled workers from foreign countries to the poorer countries D) Limiting the participation of poorer countries in international trade
If taxes are reduced, will most people save more or less than before? Does national saving rise or fall? Explain
What will be an ideal response?
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Open market operations b. Real Domestic GDP c. GDP price index d. Real risk-free interest rate e. Quantity of real credit per time period
When the government wishes to help producers of goods (such as farmers) by establishing the minimum price at which their good can be sold, economists call this a
A. alternative price. B. price statement. C. price ceiling. D. price floor.