Karl Marx was a supporter of:
(a) Capitalism.
(b) Free markets.
(c) A command or centralised economy.
(d) None of the above.
Answer: (c) A command or centralised economy.
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Each of the following is a characteristic of socialism, except
A. prohibition of any private ownership of the means of production. B. a substantial degree of government planning. C. a large-scale redistribution of income. D. government ownership of some of the means of production.
The figure shows the market for college education. In order for the efficient amount of education to occur, the government could provide a voucher of ________ per student
A) $4,000 B) $8,000 C) $12,000 D) $20,000 E) $16,000
Explain why national income and domestic product must be equal
Necessities Versus Luxuries
What will be an ideal response?