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Allocating economic outcomes in global economies

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Reference no: EM133115254

QUESTION 1: Which of the following is NOT a means of allocating economic outcomes in global economies?

A. Command system

B. Natural system

C. Traditional system

D. Market system

QUESTION 2: What term do the authors use to describe the generalized level of trust among members of a society?

A. Human capital

B. Trust issues

C. Law and order

D. Social capital

QUESTION 3: Market equilibria that are Pareto efficient might also exhibit which other problem?

A. Income and wealth inequality

B. Excess producer supply

C. Excess consumer demand

D. Price disequilibrium

QUESTION 4: Which of the following is NOT a typical outcome from market economies?

A. Higher real income

B. More competitiveness

C. Larger public (government) sector

D. More volatile GDP

QUESTION 5: Which of the following can lead to inefficiencies in market outcomes?

A. Monopoly power

B. Externalities

C. Incomplete information

D. All of the above

Reference no: EM133115254

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