The market's way of rationing limited resources, goods, and services to consumers in a market economy is through

If elected officials prefer policy actions that make benefits available quickly while deferring costs, they will be inclined to favor

A) an easier monetary policy to counter recession. B) increased appropriations to provide jobs for unemployed workers. C) a wage and price freeze to control inflation. D) all of the above. E) none of the above.

If hiring the 7th worker increases total product by 5 units and the price of each unit is $2,

a. the firm should not hire the 7th worker as MBMC d. the firm should not hire the 7th worker as MB