_______ ensure that resources are allocated to where they are most highly valued

Roughly what percent of American families lived below the poverty line in 1960?

A) 8% B) 18% C) 28% D) 38% E) 48%.

We study the simple model of competitive markets because it helps to:

A. show how poorly the economy actually functions. B. provide useful insights to markets that are not perfectly competitive. C. indicate whether buyers or sellers matter more. D. show how the government controls the economy.