Multiple Choice
-The Austrian school of economists stressed on the efficiency of the markets on the pretext that:
A) resources could be efficiently allocated through price system and free markets.
B) governmental intervention was necessary for the efficient allocation of resources.
C) the price charged under the free market system was always lower than under central planning.
D) the market had never failed earlier.
E) the market did not suffer from imperfect information.
Correct Answer:
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