A country's level of economic freedom is influenced by
A) freedom to trade internationally.
B) the relative size of government expenditures, taxes and enterprises.
C) the even-handedness of the court system and security of property rights.
D) all of the above.
D) all of the above.
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Asymmetric information refers to a situation where people who pose the greatest risk to insurers are the ones who buy insurance
Indicate whether the statement is true or false
Income accrues to people who supply productive services, which means services that
A) add to the monetary income of the society. B) are in demand. C) contribute to social welfare. D) result in tangible or durable products. E) supply basic wants.
According to the loanable funds model, which of the following events would result in higher interest rates and greater saving?
a. Firms become pessimistic about the future and, as a result, they cut back on their plans to buy new equipment and build new factories. b. The government goes from running a budget deficit to running a budget surplus. c. Congress passes a reform of the tax laws that encourages greater saving. d. Congress passes a reform of the tax laws that encourages greater investment.
When a demand curve is linear,
A. the elasticity is constant at all prices. B. demand is elastic at high prices. C. demand is unitary elastic at low prices. D. the elasticity is the same as the slope of the demand curve.