Which of the following statements is NOT true about the price system?
A) The price system allows resources to flow from low-valued uses to high-valued uses.
B) Firms have total control over what consumers can buy.
C) Individuals have freedom to purchase what they want.
D) The price system allows for economic efficiency.
B
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Which of the following is an example of a club good?
A) a lighthouse B) burritos C) a high school football game D) redwood forests
In the U.S., banks
A) cannot be forced to sell assets that the bank examiner deems too risky. B) can be forced to sell assets that the bank examiner deems too risky. C) can be forced to sell assets that the bank examiner deems too risky only after a court order. D) can be forced to sell assets that the bank examiner deems too risky only after both examiners from the Fed and from the FDIC agree. E) can be forced to trade assets that the bank examiner deems too risky.