Macro Practice Questions part 2

Macro Practice Questions part 2 - A) True B) False Correct...

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1. The market system promotes technological advance through the profit incentive A) True B) False Correct Answer(s): True 2. the command system promotes the protection of property rights and the freedom of enterprise and choice. A) True B) False Correct Answer(s): False 3. Refer to page 36 table 2.1 which technique will the producer employ A) Technique 1 B) Technique 2 C) Technique 3 D) Both techniques 1 and 2 E) None of the above Correct Answer(s): B 4. Self interest is a characteristic of the command system
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Unformatted text preview: A) True B) False Correct Answer(s): False 5. Which of the following is not one of the five fundamental questions that the market system must answer A) How will the resources be equitably distributed B) How will the system accommodate change C) What goods and services will be produced D) who will get the goods and services E) How will the system promote progress Correct Answer(s): A...
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This note was uploaded on 09/15/2011 for the course MACRO 1301 taught by Professor Rickp during the Spring '11 term at Lone Star College System.

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Macro Practice Questions part 2 - A) True B) False Correct...

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