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What determines the composition of national output? In some cases, we say that there is
“consumer sovereignty,” meaning that consumers decide how to spend their incomes on the
basis of their tastes and market prices. In other cases, decisions are made by political choices of
legislatures. Consider the following examples: transportation, education, police, energy efficiency Snap a photo from your
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of appliances, health-care coverage, television advertising. For each, describe whether the
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allocation is by consumer sovereignty or by political decision. Would you change the method of download link
allocation for any of these goods?

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In all of these cases, a combination of consumer choice and government directives or incentive
plans (a mixed economy)determine the ultimate allocation of resources.

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Economics Shigley's Website to

19th Edition Mechanical... accompany
9th Edition 6th Edition
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