Most people who live in market-oriented economies would
a. oppose trying to block better products that lower the cost of services.
b. support trying to block better products that lower the cost of services.
c. oppose trying to block better products that lower the cost of labor.
d. support trying to block better products that lower the cost of labor.
a. oppose trying to block better products that lower the cost of services.
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Marylou, whose utility of wealth curve is shown in the figure above, faces two options. Option A yields $200 for sure. Option B has a 0.3 probability of yielding $100, and a 0.7 probability of yielding $300. Marylou, who is
A) picks option A. B) picks option B. C) is indifferent between option A and option B. D) needs more information to make a choice.
Monetary restraint and fiscal stimulus will
A) both lower the real rate of interest. B) both raise the real rate of interest. C) have differing effects on the real rate of interest. D) Both raise the level of output.