The Council of Economic Advisers consists of thirty members and a staff of several dozen economists

Your textbook uses supply and demand curves together to illustrate

A) the level of output needed by individuals. B) the level of output needed by society. C) how economists are necessary to make markets to work effectively. D) how market prices play a key role in coordinating the plans of sellers and buyers. E) all of the above.

Which of the following strategies are adopted by a business tycoon when the first new management of the purchased company fails?

a. He tries a second management team. b. He tries to train and motivate the existing management team. c. He sells off part of the company in the market. d. He tries to reduce the cost of production by lowering output.