What is a main principle of Adam Smith’s The Wealth of Nations?
A. The free market system is inefficient.
B. Business prospers by finding out what people want and providing it.
C. People do not always get what they need.
D. A price-based system provides few incentives for businesses.
What is a main principle of Adam Smith?s The Wealth of Nations? C. People do not always get what they need.Auto answered|Score 1|corymow|Points 60|User:
Which is a real-life example of a market that is close to perfect competition?
A. a computer monopoly
B. an oil and gas cartel
C. a farmers’ market
D. a public school system
The correct answer is C. A farmers market.Auto answered|Score 1|Slayin|Points 743|User:
What happens to the equilibrium price when supply goes down?
A. The price goes up.
B. The price goes down.
C. The price stays the same.
D. The price goes up, and then goes down.
If supply goes up, equilibrium price goes down [www.weegy.com/?ConversationId=F254FB0F
]Auto answered|Score .8274User:
When quantity demanded in a market is more than the quantity supplied, _____ occurs.
A. a surplus
B. an equilibrium
C. a shortage
D. a production possibility
When quantity supplied is more than quantity ... have been taken out of the market) than quantity demanded, ... Shortage of supply, or . [ Excess/surplus of ... http://wiki.answers.com/Q/When_quantity_supply_is_greater_than_quantity_demand_what_happens_to_the_price
] Auto answered|Score .7317User:
What is the main job of the Office of Management and Budget?
A. prepare Congressional appropriation bills
B. create the federal budget
C. coordinate Congressional budget committees
D. approve or reject the federal budget
C. Coordinate Congressional budget committeesAuto answered|Score .8|AwesomeGuy200|Points 1177|User:
Why does unemployment rise when the economy slows?
A. Decreased demand for goods causes demand for labor to go down.
B. Decreased demand for goods causes the cost of labor to go up.
C. Increased demand for goods causes demand for labor to go down.
D. The slower economy makes companies less likely to outsource jobs.
A. Decreased demand for goods causes demand for labor to go down. Auto answered|Score 1|abhik1100|Points 685|User:
What economic theory did Ronald Reagan base his policies upon after becoming President in 1980?
A. supply-side economics
B. Keynesian economics
C. demand-side economics
D. classical economics
A. supply-side economics Auto answered|Score 1|abhik1100|Points 685|
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