Which of the following is a key characteristic of economic freedom?
a. institutions and policies supportive of voluntary exchange
b. freedom to compete
c. protection of people and their property from aggressors
d. all of the above
D
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The _____ aggregate supply curve assumed by classical economists means that the equilibrium level of _____ is determined only by the aggregate supply curve
a. vertical; output b. horizontal; price c. upward-sloping; price d. horizontal; output e. downward-sloping; price
In a long-run equilibrium in a perfectly competitive market, firms are selling at a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false
Suppose that you purchase a $5,000 bond that pays 7 percent interest annually and matures in five years. If you expect that the inflation rate during the next five years will be 2 percent annually, what real rate of return do you expect to earn?
a. 2 percent b. 5 percent c. 7 percent d. 9 percent
Which country was the most advanced country in paper and cardboard recycling in 2005?
a. France b. Ireland c. Germany d. Norway