Those from across the spectrum of political views tend to approve of markets because
A. markets are effective in solving many of society’s problems.
B. markets work well in all cases and can be relied upon to solve problems.
C. their goals are similar enough that they can rely on the same means.
D. production is the most important goal, and market systems are very productive.
E. All of these perspectives listed in these responses are correct.
Answer: A
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Refer to the scenario above. Which of the following statements will be true in steady state?
A) Economy A will have a lower capital stock and a greater GDP than economy B. B) Economy A will have a greater capital stock and a lower GDP than economy B. C) Economy A will have a greater capital stock and GDP than economy B. D) Economy A will have a lower capital stock and GDP than economy B.
An open market sale of T-bonds by the Fed causes the money supply to
a. fall and bond prices to fall. b. rise and bond prices to fall. c. rise and bond prices to rise. d. fall and bond prices to rise.