Which statement is false?
A. Under the United States' economic system, most of the important decisions are made in the market place.
B. In the United States' economy the price mechanism determines the answers to the United States' three basic questions-what, how, and for whom.
C. Most economists would agree that the price system leads to a very efficient allocation of resources.
D. None of these statements are false.
D. None of these statements are false.
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Which of the following would cause an unambiguous decrease in the real price of DVD players?
A) A shift to the right in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. B) A shift to the right in the supply curve for DVD players and a shift to the left in the demand curve for DVD players. C) A shift to the left in the supply curve for DVD players and a shift to the right in the demand curve for DVD players. D) A shift to the left in the supply curve for DVD players and a shift to the left in the demand curve for DVD players.
If the government of a country owes $3,500 billion to the International Monetary Fund and then borrows $300 billion more this year, it implies that the: a. national debt is $300 billion and fiscal deficit is $3.8 trillion. b. national debt is $3,800 billion and fiscal deficit is $300 billion. c. national debt is $4,100 billion
d. fiscal deficit is $3,800 billion. e. national debt and fiscal deficit both equal $3.8 trillion.