The central problem of every economic system is to
A) to transform mere wants into genuine needs.
B) get people to cooperate effectively in using what is available to provide what is wanted.
C) get people to see that what is available is all that is necessary.
D) increase the number of jobs available.
E) redistribute income fairly.
B
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In the United States, a reason for the increase of the labor force participation rate for women is that
A) an increase in wealth allowed men to retire early. B) more women pursued a college education and received higher wages upon graduation. C) fewer women married. D) there has been a decrease in jobs with flexible hours. E) improved Social Security benefits are available for women if they work.
Refer to the figure above. What is the change in consumer surplus when the market changes from perfect competition to a monopoly?
A) The consumer surplus increases by 30 units. B) The consumer surplus decreases by 45 units. C) The consumer surplus increases by 90 units. D) The consumer surplus decreases by 135 units.