The United States has chosen to balance the competing claims of efficiency versus equality by emphasizing greater efficiency over greater equality

Investment is defined as

A) the purchase of a stock or bond. B) the purchase of new capital goods by firms. C) spending on capital goods by governments. D) what consumers do with their savings. E) financial capital.

When a competitive price-taker market is in long-run equilibrium

a. the firms in the market will earn zero economic profit. b. the average total cost of the firms in the market will be minimized. c. every unit of the relevant good that is valued more than its opportunity costs will be produced and sold. d. all of the above are correct.