9:16 ecourses.pvamu.edu Fundamentals of Economics (ECON 2003) Fall 2017 Final Ex

Question

9:16 ecourses.pvamu.edu Fundamentals of Economics (ECON 2003) Fall 2017 Final Exam Review Questions Free market economists argue that adjust to a demand 2, when economic profit is ' the firm will- c·negative, cent to What is the main reason many economists do not believe in or trust the free market? a.the speed w which afree market absstdys 4.Free market economists argue d cestral planners are best oqipped to hundle eomal hcks and o e i 5. National income accounting is 6. The national income accounting system is used by a eely the Uniled Stle d all countrics

Explanation / Answer

1. C

Explanation: The free-market economists prescribe minimum government intervention. According to them, the market is self-adjusting and market forces will align themselves to adjust for a demand shock.

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