Question 332.5 pts Market economies are distinguished from other types of econom

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Question 332.5 pts

Market economies are distinguished from other types of economies largely on the basis of

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Question 342.5 pts

To promote good economic outcomes, policymakers should strive to enact policies that

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Question 352.5 pts

An increase in the overall level of prices in an economy is referred to as

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Question 362.5 pts

the political affiliations of government officials. Markets for Goods and Services 8 Firms Househoids Markets for Factors of Production

Explanation / Answer

1. Market economies are distinguished from other types of economies largely on the basis of the ways in which scarce resources are allocated. So the correct option is C.

2. To promote good economic outcomes, policymakers should strive to enact policies that enhance productivity. So the correct option is A.

3. An increase in the overall level of prices in an economy is referred to as inflation. So the correct option is B.

4. D arrow represents the flow of income payments. So the correct option is D.

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