The basic coordinating mechanism in a free-market system is
A. quantity.
B. a central government authority.
C. price.
D. the corporation.
Answer: C
You might also like to view...
Refer to Figure 4.1. A Nash equilibrium can be found at
A) (Up; Top; Left) B) (Up; Top; Right) C) (Down; Bottom; Right) D) There is no Nash equilibrium.
Stagflation refers to a situation in which the economy is experiencing:
A. high economic growth and high inflation. B. low economic growth and high inflation. C. high economic growth and low inflation. D. low economic growth and low inflation.
If the Fed wants to lower the federal funds rate through open market operations, it ________
A) decreases tax rates B) increases tax rates C) sells bonds D) buys bonds
According to the Principle of Increasing Opportunity Cost, in expanding the production of any good, we should start by utilizing the resources that:
A. have the highest opportunity cost. B. have the lowest opportunity cost. C. we have the most of. D. we have the least of.