Market economies are based on:
A. private property and individual good will toward others.
B. government planning and individual good will toward others.
C. private property and individual planning.
D. government planning and individual self-interest.
Answer: C
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Quantity supplied means
A) the amount of a good consumers plan to purchase. B) the amount of a good suppliers plan to sell at a given price. C) the only level of output that producers can produce. D) the same thing as "supply."
Refer to Figure 3-1. A decrease in the expected future price of the product would be represented by a movement from
A) A to B. B) B to A. C) D1 to D2. D) D2 to D1.
"The optimal level of pollution is zero." Do you agree or disagree? Why?
What will be an ideal response?
Suppose the reserve requirement is 15 percent. Which of the following is true? a. The simple money multiplier is 15
b. The simple money multiplier is 1/15. c. The simple money multiplier is 30,000. d. The simple money multiplier is 1/30,000. e. The simple money multiplier is 1/0.15.