52. True or false? A market system sends signals to consumers regarding what to

Question

52. True or false? A market system sends signals to consumers regarding what to produce and what to consume.
57. Social cost is A. The cost of production borne by the producer of a product B. The total cost of producing and consuming a good C. The sum of all the firms' private costs in a market D. Always equal to private costs in a market E. Likely to occur only in markets where all resources are efficiently allocated
58. True or false? The goal of a business is not to benefit society.
59. True or false? Between 1997 and 2006, the price of the typical American house doubled, a rate significantly higher than at any other time during the previous decades.
60. What proportion of the United states' current GDP do Health care expenditures represent? A. More than 16 percent B. More than 25 percent C. Between 10 and 15 percent D. Less than 5 percent E. Between 5 and 10 percent
72. A partnership is a A. Business owned by two or more partners who share the firm's profits but are not responsible for any losses. B. Business owned by shareholders whose liability for the firm's losses is limited to the value of the stock they own. C. Business owned by two or more persons who share the firm's profits and losses D. Business owned by shareholders whose liability for the firm's losses includes their personal wealth. E. One person operation that has many employees 52. True or false? A market system sends signals to consumers regarding what to produce and what to consume.
57. Social cost is A. The cost of production borne by the producer of a product B. The total cost of producing and consuming a good C. The sum of all the firms' private costs in a market D. Always equal to private costs in a market E. Likely to occur only in markets where all resources are efficiently allocated
58. True or false? The goal of a business is not to benefit society.
59. True or false? Between 1997 and 2006, the price of the typical American house doubled, a rate significantly higher than at any other time during the previous decades.
60. What proportion of the United states' current GDP do Health care expenditures represent? A. More than 16 percent B. More than 25 percent C. Between 10 and 15 percent D. Less than 5 percent E. Between 5 and 10 percent
72. A partnership is a A. Business owned by two or more partners who share the firm's profits but are not responsible for any losses. B. Business owned by shareholders whose liability for the firm's losses is limited to the value of the stock they own. C. Business owned by two or more persons who share the firm's profits and losses D. Business owned by shareholders whose liability for the firm's losses includes their personal wealth. E. One person operation that has many employees 52. True or false? A market system sends signals to consumers regarding what to produce and what to consume.
A. The cost of production borne by the producer of a product B. The total cost of producing and consuming a good C. The sum of all the firms' private costs in a market D. Always equal to private costs in a market E. Likely to occur only in markets where all resources are efficiently allocated
58. True or false? The goal of a business is not to benefit society.
59. True or false? Between 1997 and 2006, the price of the typical American house doubled, a rate significantly higher than at any other time during the previous decades.
60. What proportion of the United states' current GDP do Health care expenditures represent? A. More than 16 percent B. More than 25 percent C. Between 10 and 15 percent D. Less than 5 percent E. Between 5 and 10 percent
A. Business owned by two or more partners who share the firm's profits but are not responsible for any losses. B. Business owned by shareholders whose liability for the firm's losses is limited to the value of the stock they own. C. Business owned by two or more persons who share the firm's profits and losses D. Business owned by shareholders whose liability for the firm's losses includes their personal wealth. E. One person operation that has many employees

Explanation / Answer

52. A market system sends signals to consumers regarding what to produce and what to consume.

True.

57. Social cost is

B. The total cost of producing and consuming a good.

58. The goal of business is not to benefit to society:

False.

59. Between 1997 and 2006, the price of typical American house doubled, a rate significantly higher than at any time during the previous decades.

True.

60. What proportion of the United States’ current GDP do Health care expenditures represent?

A. More than 16 percent.

72. A Partnership is a

C. Businesses owned by two or more persons who share the firm’s profit and losses.

*****

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