The market system multiple choice a) produces considerable inefficiency in the use of scarce resources. b) effectively harnesses the incentives of workers and entrepreneurs. c) is not consistent with freedom of choice in the long run. d) has slowly lost ground to emerging command systems.

Contrast two economies that transitioned to capitalism and explain what factors affected the ease kf their transition as welas the “face” of capitalism that each has adopted

You are given the following information about aggregate demand at the existing price level for an economy: (1) consumption = $400 billion, (2) investment = $40 billion, (3) government purchases = $90 billion, and (4) net export = $25 billion. if the full-employment level of gdp for this economy is $600 billion, then what combination of actions would be most consistent with closing the gdp gap here?

Exercise 2-12 cost behavior; high-low method [lo2-3, lo2-4] speedy parcel service operates a fleet of delivery trucks in a large metropolitan area. a careful study by the company’s cost analyst has determined that if a truck is driven 120,000 miles during a year, the average operating cost is 11.6 cents per mile. if a truck is driven only 80,000 miles during a year, the average operating cost increases to 13.6 cents per mile. required: 1.& 2. using the high-low method, estimate the variable and fixed cost elements of the annual cost of truck operation. (round the "variable cost per mile" to 3 decimal places.)