Which of the following is a typical attribute of a socialist country?
A. Taxes are very high, particularly on the wealthy classes.
B. Cradle-to-grave security for its citizens.
C. A large-scale redistribution of income program from the wealthy and well-to-do to the middle class, working, class and the poor.
D. All of the choices are attributes of a socialist country.
D. All of the choices are attributes of a socialist country.
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Government regulation in the form of subsidies, tariffs, licensing, and inspections does which of the following?
(a) Creates rents for businesses (b) Offers profits to some businesses at the expense of others (c) Encourages the inefficient use of productive resources (d) All of the above
If the union and management cannot come to terms on a labor contract, one legal weapon the union can employ to put pressure on management is to
a. engage in industrial sabotage b. strike c. reveal the firm's trade secrets d. spread false rumors about the financial health of the firm e. engage in collective bargaining
With the value of money on the vertical axis, the money supply curve is
a. upward-sloping. b. downward-sloping. c. horizontal. d. vertical.
In the graph shown, what would eliminate a trade deficit if there were one?
A. Foreign wages rise relative to domestic wages. B. The exchange rate appreciates. C. Domestic reservation wages rise. D. Government runs expansionary policy.