Economic growth in the United States
A) has produced an increasing level of income inequality.
B) allows most citizens to enjoy higher standards of living than they would otherwise have.
C) has eroded the ability of the market mechanism to allocate goods well.
D) has eliminated scarcity.
Correct Answer:
Verified
Q1: Exchanges taking place in a price system
A)
Q2: In a market system, how are the
Q3: What is the purpose of a market
Q5: An economic system
A) is a means of
Q6: The condition of scarcity means that
A) when
Q7: The purpose of an economic system is
Q8: In a free market economy,
A) prices affect
Q9: Markets tend to
A) exist primarily in towns
Q10: In a price system, if the most
Q11: How does a consumer decide whether to
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