Which of the Following Statements Is True

question 82

Multiple Choice

Which of the following statements is true?

• A)Markets respond to consumer preferences, whereas government responds only to societal preferences.
• B)Markets keep costs low because producers desire to please people regardless of cost.
• C)Government keeps costs low because it has a moral obligation to voters.
• D)It is safe to assume that government will do what is best for society, whereas markets do what is best for business owners.
• E)The lack of the profit motive encourages supervisors in government agencies to make decisions concerning employees on the basis of issues other than merit.

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Definitions:

Mental Age

A measure of an individual's cognitive ability compared to the average cognitive ability of an age group.

IQ

Stands for Intelligence Quotient, a standardized score designed to measure human intelligence through various cognitive tasks and assessments.

Normally Distributed

A statistical term describing a distribution that has a specific bell-shaped symmetry around its mean.

Average Score

A statistical measure that summarizes the central tendency of a data set by dividing the sum of all values by the number of values.