Economic theory is most useful in explaining the operation of social systems
A) aimed at making a living.
B) directed toward the satisfaction of material wants.
C) in the world of business and finance.
D) in which participants characteristically don't know one another personally.
E) in which people pursue selfish interests.
D
Economics
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According to the quantity theory of money, the quantity of money determines the
a. interest rate. b. level of real output. c. price level. d. level of employment.
Economics
Allocative efficiency occurs where:
a. the price of a good is less than the marginal cost of producing it. b. the price of a good is greater than the marginal cost of producing it. c. the price of a good is equal to the marginal cost of producing it. d. the greatest quantity of output is available for sale.
Economics