Which of the following contributes to the efficiency of markets?
A) Markets promote competition and voluntary exchange.
B) Markets are able to bring about an equitable distribution of goods and services.
C) Governments play an active role in the day-to-day operations of markets.
D) Markets promote equal standards of living.
A
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If a country has a large percentage of its population under 15 years old, then compared with other countries, this creates
a. a problem because they consume more than they produce b. a problem because they cause more capital goods to be produced c. a benefit because they boost demand for consumption goods d. a benefit because they cause more capital goods to be produced e. neither a problem nor a benefit since age is irrelevant
(Advanced analysis) Suppose that the linear equation for consumption in a hypothetical economy is C = 50 + 0.9 Y. Also suppose that income (Y) is $400. Determine the following: (a) MPC; (b) MPS; (c) level of consumption; (d) APC; (e) APS.
What will be an ideal response?