Multiple Choice
A price system is an economic system in which
A) resource allocation is decided by bureaucrats.
B) commands from government planners are used to answer the three basic economic questions.
C) prices for all basic commodities are set by federal mandate.
D) prices change to reflect changes in supply and demand for different commodities.
Correct Answer:
Verified
Correct Answer:
Verified
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Q62: Figure 2-3<br>Tonnes<br>of<br>Soybeans <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4981/.jpg" alt="Figure 2-3 Tonnes
Q63: Figure 2-4 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4981/.jpg" alt="Figure 2-4
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Q67: Figure 2-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB4981/.jpg" alt="Figure 2-2
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