The price mechanism
A. works best when many competing business firms are in each industry.
B. works best when government through a central planning agency sets prices.
C. works best when corporations set prices for a market economy.
D. All of the choices are true about price mechanism.
A. works best when many competing business firms are in each industry.
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The Philippines and Vietnam have roughly the same size population. Suppose the GDP of the Philippines is $1,000 billion and the GDP of Vietnam is $10,000 billion. You should conclude
A) it is not possible to make a good comparison of the economic well being of a typical individual in the 2 countries without additional information. B) a typical person in Vietnam is 10 times as well off as the typical person in the Philippines. C) a typical person in Vietnam is more than 10 times as well off as the typical person in the Philippines. D) a typical person in Vietnam is less than 10 times as well off as the typical person in the Philippines.
You would be less willing to purchase U.S. Treasury bonds, other things equal, if
A) you inherit $1 million from your Uncle Harry. B) you expect interest rates to fall. C) gold becomes more liquid. D) stock prices are expected to fall.