In the circular flow of income, the allocation of resources is largely decided by O A. producers and consumers acting independently B. central authorities and producers acting independently OC. individuals only O D. central authorities and firms only O E. political parties and firms onlyMost modern economies in the world today O A. are similar to feudal systems. O B. are complex systems that defy description and analysis. O C. are mostly run by government decree O D. ignore countries' pressing social issues. E. have a mix of traditional, command and market elementsIncome redistribution in a mixed economy O A. is supported by all individuals. O B. rarely occurs O C. is not allowed O D. is only accomplished through government intervention O E. helps those who lose their jobs or the elderly who are on low fixed incomesLars can initially produce 20 pizzas or 2 cakes. After some training from a pizza-making expert, his opportunity cost of making O A. 1 cake will become less than 10.00 pizzas. O B. 1 cake will become more than 10.00 pizzas. O C. cakes will remain unchanged O D. 1 cake will become equal to 0 pizzasKatie and Hugh are producing pies and jars of pickles. Katie can produce either 100 jars of pickles or 500 pies per month. Hugh can produce either 200 jars of pickles or 900 pies per month. Currently, each divide their time equally between production of the two goods per month. Katie produces 50 jars of pickles and 250 pies while Hugh produces 100 jars of pickles and 450 pies In order for Katie and Hugh to jointly gain from specialization, which of the following changes should take place? O A. Hugh should produce more pies and fewer jars of pickles. O B. Katie and Hugh should both produce more pies and fewer jars of pickles O C. Katie should produce more pies and fewer jars of pickles O D. Katie should produce more jars of pickles and fewer pies O E. Katie and Hugh should both produce more jars of pickles and fewer pies