Economic freedom is crucial for achieving economic growth because ______.
A. it gives the incentive to save, invest, expand human capital, and discover and apply new technologies
B. it ensures that the majority of citizens make the most important decisions
C. only good government can make the right investment decisions
D. it protects workers' rights and prevents unfair firing
E. it upholds democracy, which is essential if an economy is to grow
A. it gives the incentive to save, invest, expand human capital, and discover and apply new technologies
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The right to private property and ability to exchange goods and services freely is known as
A) political freedom. B) economic freedom. C) constitutional freedom. D) external freedom.
When there are gains from trade, the trading nations would be worse off if no trade took place
Indicate whether the statement is true or false
Suppose the government of a small island country does not currently have any automatic stabilizers in place but they decide to implement them with the expectation of an impending recession. Which of the following would be most effective?
A. Institute a 4-year term policy for the president. B. Begin collecting property taxes. C. Create an unemployment compensation program. D. Pass legislation for a one-time investment in infrastructure.
Cinemas sometimes give senior citizens discounts. What is the possible privately motivated purpose for them to do so?
A. Senior citizens lack recreational activities. B. Purely because entrepreneurs are benevolent. C. Senior citizens have a more elastic demand for movies than ordinary citizens. D. None of the statements is correct.