Competitive market economy will make the needed adjustments
Briefly explain how the competitive market economy will make the needed adjustments to reestablish an efficient allocation of society’s scarce resources?
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They will also be able to pay higher wages and bid workers away from alternative employment. Bagel manufacturing firms will also be willing to pay higher prices for flour and other ingredients. They will be likely to buy additional capital equipment and expand their facilities. Cereal manufacturers will cut production, lay off workers and reduce purchases of materials. They may have to close facilities and offer their used capital equipment and unneeded land for sale at reduced prices.
Illustrate major economic flows that link U.S. with nations. Provide an example to illustrate each flow. Explain the relationship between the top and bottom flows.
Question: In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables? Answer: <
Enumerate and briefly discuss the main economic functions of government. Which of these functions do you think is the most controversial? Why?
Briefly describe the term explicit cost and implicit cost?
Which of the given describes a condition in which a good or service is produced at the lowest probable cost: w) productive efficiency. x) allocative efficiency. y) marginal efficiency. z) profit maximization Please
What are the limitations of Circular Flow Model?
Use two market diagrams to explain how an increase in state subsidies to public colleges might affect tuition and enrollments in both public and private colleges.
Who will get the goods and services?
Payments for the use of land, capital and labor are respectively termed as: (w) rent, wages and profits. (x) rent, interest and wages. (y) dues, profits and depreciation. (z) fruit, profits and money. Q : How market system promotes How market system promotes technological improvements?
How market system promotes technological improvements?
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