(Answered) Problem1in a market economy resources tend to be allocated

Economics

Problem

1. In a market economy resources tend to be allocated optimally. Discuss how the interaction of consumers and producers makes this happen.

2. United States has large trade deficits with many countries. Discuss at least two reasons for the trade deficit. Note: Your discussion must be based on positive economic analysis. Avoid interjecting your own personal opinion.

3. Many economists believe there is a conflict between the economic goals of growth and equity. Do you agree or disagree? Provide your reasons.

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