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How do consumers exercise their power in the American economy?
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
What is the fundamental economic problem?
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
The American economic system can be described as having a
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
Which of the following is NOT a basic economic question?
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
The government plays all of the following roles in the American economy EXCEPT
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
An advantage of a market economy is its ability to
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
During period of inflation, people living on a fixed income have
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
All of the following are characteristics of a free-enterprise economy EXCEPT
adjust to changes over time.
declining purchasing power.
government control.
central planner deciding what to produce.
free enterprise system.
by deciding what to purchase
WHEN to produce
scarcity
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