Question
Consider the pencil example from Free to Choose.
In Friedman’s pencil example:
In Friedman’s pencil example:
A Friedman illustrates that government dictated prices can cause the “right” amount of a good to be produced.
The quadrupling of the price of oil in 1973 is an example of market forces setting prices.
Freely fluctauting prices cause a good to be produced in the cheapest and most efficient manner.
The quadrupling of the price of oil in 1973 is an example of market forces setting prices.
Freely fluctauting prices cause a good to be produced in the cheapest and most efficient manner.
B Friedman illustrates that government dictated prices can cause the “right” amount of a good to be produced.
Freely fluctuating prices can coordinate productive activity better than commands from a central authority
Government price controls that prevented oil prices from rising in the U.S. due to the actions of OPEC, reduced U.S. dependence on foreign oil.
Freely fluctuating prices can coordinate productive activity better than commands from a central authority
Government price controls that prevented oil prices from rising in the U.S. due to the actions of OPEC, reduced U.S. dependence on foreign oil.
C Freely fluctuating prices are better at transmitting information from consumers to producers that more of a good should be produced.
Freely fluctuating prices can coordinate productive activity better than commands from a central authority.
Freely fluctauting prices cause a good to be produced in the cheapest and most efficient manner.
Freely fluctuating prices determing who gets to consume a good and who does not.
Freely fluctuating prices can coordinate productive activity better than commands from a central authority.
Freely fluctauting prices cause a good to be produced in the cheapest and most efficient manner.
Freely fluctuating prices determing who gets to consume a good and who does not.
D Friedman illustrates that government dictated prices can cause the “right” amount of a good to be produced.
The quadrupling of the price of oil in 1973 is an example of market forces setting prices.
Government price controls that prevented oil prices from rising in the U.S. due to the actions of OPEC, reduced U.S. dependence on foreign oil.
The quadrupling of the price of oil in 1973 is an example of market forces setting prices.
Government price controls that prevented oil prices from rising in the U.S. due to the actions of OPEC, reduced U.S. dependence on foreign oil.
This question is taken from Economics 160 – Microeconomics Principles » Spring 2022 » Homework Introduction and Chapter 1
