Which of the following is a fundamental characteristic of the market system?
A. Property rights.
B. Central planning by government.
C. Unselfish behavior.
D. Government-set wages and prices.
Answer: A
Economics
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If a firm is currently equating MR and MC and product price = $24, AVC = $22, and ATC = $26, then in the long run this firm:
a. will continue to operate at a loss. b. will earn a positive profit. c. will go out of business. d. should increase output. e. should decrease price.
Economics
Government borrowing:
A. is the primary means of financing public expenditures. B. provides a stimulus to government spending with no opportunity cost. C. may crowd out private sector investment. D. is prohibited by the U.S. constitution.
Economics