Which of the following is the most important pre-requisite to a well-functioning market economy?
A) Goods must be non-scarce.
B) Everyone must have an adequate income.
C) Participants must follow some clear, general rules.
D) People must have roughly similar tastes and preferences.
E) There must be approximate equality of incomes.
C
Economics
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The aggregate demand curve plots
A) total expenditures against the level of employment. B) desired expenditures against production. C) employment against the price level. D) planned expenditures against the price level.
Economics
Refer to the figure above. The market price of Good Y is ________
A) $10 B) $17 C) $22 D) $20
Economics