Fundamental building block of the us economic way

Assignment Help Business Economics

Reference no: EM13741688

Which of the following is viewed as a fundamental building block of the U.S. economic way of thinking?

a) the belief that industry must be allowed to prevail over the environment

b) the principle that a system of voluntary exchange benefits both parties

c) the principle of setting high toxic emission limits to preserve a healthy environment

d) the needs of both parties to a voluntary exchange must be completely satisfied

Reference no: EM13741688

Questions Cloud

Marginal product of sixth backhoe operator could be positive : Suppose that for a firm that digs ditches for laying cable or pipeline, backhoes and backhoe operators are pure complements in production, being used on a one-for-one basis. Draw the isoquants (on a graph with backhoe, “K”, and backhoe operators, “E”..

Incomes rise for both low-income and high-income workers : If incomes rise for both low-income and high-income workers, but rise less for the high-income workers.

Assume the natural rate of unemployment : The Sequester is probably a bad idea. Use the IS-MP model to explain what should happen to the economy if the government cuts spending by 1 percentage point of potential GDP.

How much can we expect this to increase unemployment rate : Assume that b=1/2 and that initially the real interest rate is equal to the marginal product of capital at 3%. As well, assume that v=2 and that the inflation rate last period was 2%. Assume the natural rate of unemployment is 5.5%. How much can we e..

Fundamental building block of the us economic way : Which of the following is viewed as a fundamental building block of the U.S. economic way of thinking?

Which the interest rate reaches its equilibrium value : Describe the process in the money market (demand and supply of/for money) by which the interest rate reaches its equilibrium value if it starts above equilibrium. (Principles of Macroeconomics)

A merger will likely lessen competition : A merger will likely lessen competition if

If oligopolists compete hard against each other : If oligopolists compete hard against each other.

What happens in the short-run if coustomers incomes increase : Assume that apples are an inferior good. Draw a perfectly competitive market for apples and a firm selling apples in the long run equilibrium where price is $10 and the firm’s equilibrium quantity is 50. EXPLAIN what happens in the short-run if coust..

User Account

All Pages