A mixed economy
A. Relies on the use of central planning by private firms rather than the government.
B. Is one that allows trade with other countries.
C. Is justified by the superiority of laissez faire over government intervention.
D. Utilizes both market and nonmarket signals to allocate goods and services.
Answer: D
Economics
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The slope and location of the demand curve depend on:
A) the number of buyers. B) production costs. C) the number of producers. D) all of the above.
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If a consumer wishes to maximize satisfaction given limited income and MUx/Px< MUy/Py then the consumer should:
a. do nothing because she/he is in equilibrium. b. buy more of X and less of Y. c. buy more of Y and less of X. d. buy more of both X and Y. e. buy less of both X and Y.
Economics