Author Question: Do people's incomes result from the choices they make? A) Yes, and from no constraints ... (Read 82 times)

LCritchfi · **on:** Jun 29, 2018

Do people's incomes result from the choices they make?

A) Yes, and from no constraints whatsoever.
B) Yes, but from among a limited set of options.
C) No, because obviously no one would choose to be poor.
D) No, because others often will not let people have what they choose.

Question 2

If prices are held below the equilibrium price:

A) there exists a surplus in the market.
B) there exists a shortage in the market.
C) social surplus is maximized.
D) all firms earn positive economic profits.