If markets are perfectly competitive, then the production of goods
A) will use the least costly combination of resources.
B) will occur at an average total cost value that is above the minimum.
C) will require government intervention.
D) will always lead to business failures.
A
Economics
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The deposit expansion multiplier would increase if the Fed were to
A) raise the required reserve ratio. B) lower the required reserve ratio. C) raise the discount rate. D) sell bonds.
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If the area between the line of equality and the Lorenz curve is 1,250, and the entire area beneath the line of equality is 5,000, the Gini ratio is
A) 0.25. B) 4.00. C) 0.33. D) 0.80.
Economics