Which of the following statements is true?
A. The doctrine of laissez-faire advocates an economic system with extensive government intervention and little individual decision-making.
B. In capitalism income is distributed on the basis of need.
C. Adam Smith was the father of socialism.
D. Most real-world economies are mixed economic systems.
Answer: D
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According to new growth theory, discovering and implementing new __________ is what causes economic growth
A) ways of managing personnel B) manufacturing techniques C) ideas D) resource sources E) none of the above
The trade balance component of aggregate demand is a function of all the following EXCEPT:
a. foreign disposable income. b. domestic disposable income. c. the real exchange rate. d. consumer spending.
In the market for a foreign currency, the curve that represents the "willingness of those who have foreign currency to trade them for the U.S. dollar" is the
A. demand curve. B. equilibrium curve. C. price curve. D. supply curve.
Refer to Exhibit 2-2. If PPF2 is the relevant production possibilities frontier, then point __________ is productive efficient.
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