An auction is an example of a coordination mechanism.
Answer the following statement true (T) or false (F)
True
All markets are a type of coordination mechanism.
Economics
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Which of the following would be an appropriate discretionary fiscal policy to use when the economy is in a recession?
a. Increased government spending. b. Higher taxes. c. A balanced-budget reduction in both spending and taxes. d. An expansion in the money supply.
Economics
A consumer's switch to another similar good when the price of the preferred good increases is termed the: a. income effect
b. substitution effect. c. utility effect. d. marginal effect.
Economics