Which of the Following Statements About Economic Decision Making Is

question 187

Multiple Choice

Which of the following statements about economic decision making is TRUE?

• A) In a market-directed economy, the micro-level decisions of individual producers and consumers determine the macro-level decisions.
• B) Government planning usually works best when economies become more complex and the variety of goods and services produced is fairly large.
• C) The United States may be considered a pure market-directed economy.
• D) Command economies usually rely on market forces to determine prices.
• E) All of the above are true statements.

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Definitions:

Pairs

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Evolutionary Psychologist

A psychologist who studies how evolutionary principles help explain the origin and function of the human mind and behavior.

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Characteristics or features of an organism that can be passed from one generation to the next through genes.

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The direct lineage of organisms from which an individual has descended.