What is an important advantage of a free market?
a) it does not change unless the government directs it
b) it offers a wide variaty of goods and services
c) it is easy to regulate
d) it protects the less fortunate
Answer: b) it offers a wide variaty of goods and services
Economics
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Which of the following transactions is a debit in the US current account?
A) Export of merchandise B) Export of services C) Gifts to foreigners D) Foreign bond purchases
Economics
Explain why the long-run total cost curve, not the short-run total cost curve, shows the lowest cost of producing any level of output. Is there an exception?
What will be an ideal response?
Economics