Private property rights mean that:
A) individuals cannot be excluded from the consumption of goods and services regardless of whether they pay for them.
B) individuals have a right to elect their representatives in the government.
C) individuals can own businesses and assets, and their ownership is secure.
D) the government does not own any resource used in production in an economy.
C
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If European economies enter a recession,
A) U.S. aggregate demand decreases and the U.S. AD curve shifts rightward. B) the quantity of real GDP demanded in the United States decreases and there is a movement down along the U.S. AD curve. C) U.S. aggregate demand decreases and the U.S. AD curve shifts leftward. D) the quantity of real GDP demanded in the United States increases and there is a movement up along the U.S. AD curve. E) U.S. aggregate demand increases and the U.S. AD curve shifts rightward.
Monetarists view government intervention in the economy as
A) necessary to maintain full employment. B) unnecessary and potentially damaging. C) effective because it stimulates capital formation. D) leads to consistently higher employment and output.
If the average cost of a product is $10 per unit and the price is $5, the firm is losing money.
Answer the following statement true (T) or false (F)
What determines the creditworthiness of any organization, including the federal government?
a. the size of its debt relative to its income base b. the interest rate at which it can borrow money c. the length of time it has existed d. the length of time it is expected to operate