What determines the price and the quantity produced of most goods?
a. the consumer's perception of necessity
b. the interaction of supply and demand
c. the quality of the goods that are produced
d. the availability of substitutes for the goods
Ans: the interaction of supply and demand
Economics
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Which of the following is the best example of a public good?
a. a national system of healthcare b. an amusement park c. city street lights d. telephone service
Economics
The most desirable inflation rate is the rate that
A. Maximizes the "wealth effect" of inflation. B. Has the least effect on the behavior of companies, investors, consumers, and workers. C. Coincides with an unemployment rate of 0 percent. D. Equals the official goal of 3 percent.
Economics