v 5 _____ 24. Which of the following must be true if entrepreneurs bid against o

Question

v

5

_____ 24. Which of the following must be true if entrepreneurs bid against one another for

resources?

a. The owners of those resources will be exploited.

b. The entrepreneurs are not acting in their true role, which involves coordination of

resources than competition.

c. Resource prices will rise.

d. Output will rise.

e. Output prices will fall.

_____ 25. The major social insurance program in the U.S. is:

a. Social Security.

b. TANF.

c. Medicare.

d. Supplementary Security Income.

e. Food Stamps.

_____ 26. In discussing the distribution of income among families, the term

Explanation / Answer

24. C

25. Naturally both A & C, but major thing is A

26. B or E

27. C

28. B

29. B

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