Which Tools Allow Economists to Determine If the Allocation of Resources

question 88

Multiple Choice

Which tools allow economists to determine if the allocation of resources determined by free markets is desirable?

• A)profits and costs to firms
• B)consumer and producer surplus
• C)the equilibrium price and quantity
• D)incomes of and prices paid by buyers

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Definitions:

Yalta Conference

A meeting held in February 1945 between the leaders of the United States, the United Kingdom, and the Soviet Union to discuss the postwar reorganization of Germany and Europe.

Franklin Roosevelt

The 32nd President of the United States, who led the country during the Great Depression and World War II.

Joseph Stalin

Joseph Stalin was a Soviet politician and dictator who led the Soviet Union from the mid-1920s until his death in 1953, overseeing extensive industrialization and the implementation of severe political repression.

Nazis

Members of the National Socialist German Workers' Party, led by Adolf Hitler, responsible for the atrocities of World War II and the Holocaust.