The market mechanism may best be defined as
A) The use of market prices and sales to signal desired output.
B) The use of market signals and government directives to select economic outcomes.
C) The process by which the production possibilities curve shifts inward.
D) Price regulation by government.
Correct Answer:
Verified
Q44: Which of the following is an example
Q50: Macroeconomics focuses on the performance of
A)Individual consumers.
B)Government
Q51: Use the following figure to answer questions:
Q52: Adam Smith's invisible hand is now called
A)Economic
Q53: The invisible hand refers to
A)Intervention in the
Q54: The market mechanism
A)Is not a very efficient
Q56: The doctrine of laissez faire is based
Q58: Economic models are used by economists to
A)Predict
Q58: Which of the following has occurred when
Q59: If market signals result in pollution beyond
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