In a market economy, producers will produce the goods and services that
A. Optimize producer utility.
B. Consumers need the most.
C. Producers want to purchase.
D. Consumers demand.
Answer: D
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Purchasing power parity does a ________ job in explaining movements in nominal exchange rates in the short run and does a ________ job in explaining movements in nominal exchange rates in the long run
A) reasonable; reasonable B) reasonable; poor C) poor; reasonable D) poor; poor
The reserves of financial institutions:
a. Are the largest liability in a financial institution's balance sheet. b. Are assets that financial institutions try to maximize. c. Are assets that financial institution's try to keep at the legal limit. d. Are made up mainly of government securities and high quality corporate bonds. e. Include the liability called "Borrowing from the central bank."