Which of the four types of decision makers in the U.S. economy plays the largest role?
a. U.S. firms and government because they produce the products that households consume
b. U.S. households because they supply goods to the product markets and are demanders in resource markets
c. foreign households, firms, and governments because they greatly outnumber those of the United States
d. U.S. firms and government because they create employment for domestic households and produce goods and services
e. U.S. households, as buyers in product markets and sellers in resource markets
E
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In the year ________, for the first time in 30 years, the federal government ran a surplus
A) 1980 B) 1985 C) 1990 D) 1998
Which of the following results from the market system of resource allocation?
a. Equitable distribution of resources b. High opportunity cost of production c. Excess supply of goods and services resulting in decreased profits d. Unequal distribution of income and wealth e. Allocation of the goods and services to those who need them the most