An economy in which people exchange goods and services in a market is called a:
A. socialist economy.
B. market economy.
C. centrally planned economy.
D. command economy.
Answer: B
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Which statement about the United States at present is false?
A. We have the world's largest economy. B. The United States' federal deficits have been at record highs for the last few years. C. The Social Security and Medicare trust funds are safe for at least the next two generations. D. We are borrowing almost $2 billion a day from foreigners to finance the United States' trade and budget deficits
Which one of the following is an example of a positive statement?
A) Farmers need some type of government aid. B) State governments should provide economic assistance to farmers. C) The federal government should provide economic assistance to farmers. D) The amount of financial assistance given to farmers is higher this year than it was 10 years ago.
In general, which form of business organization has the greatest capacity to raise large sums of financial capital?
A) sole proprietorships B) partnerships C) limited partnerships D) corporations
List the various reasons that contributed to the financial crisis that occurred in 2008