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What goods and services will be? produced, how the goods and services will be? produced, and who will receive the goods and services are? determined:
A. in centrally planned economies by the government.
B. in market economies by the decisions of households and firms interacting in markets.
C. in mixed economies by the decisions of buyers and sellers interacting in marketsdecisions of buyers and sellers interacting in markets.
D. in market economiesmarket economies partly by the decisions of buyers and sellers interacting in markets and partly by the government.
E. both a and b are true.
The revenues and costs of The Greener Way, a lawn care business wholly owned by Mr. Albert Johnston are listed below. Lawn Mowing $63,000 Aeration $2,000 Labour Cost $30,000 Vehicle Costs $15,000 Lawnmower Maintenance $5,000 Debt-Service Costs $13,00..
Which of the following statements about the provision of public goods is true?
Discussion Board Debate: "Should the Federal Reserve aim at a zero inflation policy?" Explanation: Virtually all economists agree that high inflation rates are disruptive. Economies experiencing double-digit inflation rates tend to have lower growth ..
Show the change in the market for orange juice that is consistent with the following statement: "When a cold snap hits Florida, the price of orange juice rises in supermarkets throughout the country."
Prepare a CPM/PERT chart and determine project duration based on normal project duration (using Normal Time) Prepare a CPM/PERT chart and determine the shortest time this project can be completed taking (using Crash Time).
Teapot Dome was a successful government project to displayed Harding administration's policy of a laissez faire government. Elucidate
the demand curve to which the result pertains (it is: “the demand curve for McDonald’s hamburgers”). whether the result involves “moving along” the demand curve or “shifting” the demand curve. What happens to the demand for McDonald’s hamburgers when..
A group opposed to free trade concludes that the total number of domestic jobs will decrease because it estimates that 20,000 jobs will migrate abroad. The actual total loss is:
Which results in a greater welfare loss for the domestic economy.
A bright OU student plans to win first prize in the Ohio University Scripps Innovation Challenge that began Jan 17 and ends March 13. He will invest his $10,000 winnings in a friend’s 5-year-old startup company and expects to gain 10% interest per ye..
How are the forecasts likely to be inaccurate? What do you think is driving inaccuracy? How might this problem be solved?
Suppose the economy is initially in long-run equilibrium and the U.S. stock market has a prolonged decrease in shareholder value. Use the AD–AS model to predict short-run changes to real GDP and the aggregate price level. Should the government undert..
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