Fill in the blank: In the economic way of thinking, ________ are the key to help people coordinate production and consumption plans
A) abundant levels of natural resources
B) well-meaning and inspired economic planners
C) market-formed prices
D) years of training in economic theory
C
Economics
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An increase in which of the following is most likely to cause the short-run aggregate supply curve to shift to the left?
A) Consumers' income B) The money supply C) Government spending D) The optimism of business firms E) The per unit cost of production
Economics
"Because of rent seeking, a monopoly may end up making zero economic profit." Is the previous statement correct or incorrect? Why?
What will be an ideal response?
Economics