In a price system, changes in prices
A) make it difficult for the system to function well.
B) imply that people have made mistakes in the past.
C) signal to everyone in the system what goods are relatively more or less scarce.
D) signal to policy makers what goods should and should not be taxed more.
Correct Answer:
Verified
Q1: The price system features
A) exchanges made in
Q2: The price system has
A) prices fixed by
Q4: The signaling aspect of the market system
Q5: Which of the following is NOT an
Q6: Which of the following statements about markets
Q7: Voluntary exchange
A) is the only way to
Q8: The price of coffee increases. Which of
Q9: In a market system, the costs associated
Q10: In the price system
A) prices are set
Q11: In a market system, what must take
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