Capitalism is an economic system that:
a. Gives private individuals and corporations the right to own productive resources
b. Gives the government the right to tax individuals and corporations
c. Produces more consumer goods than capital goods
d. Produces more capital goods than consumer goods
a. Gives private individuals and corporations the right to own productive resources
You might also like to view...
The absence of significant scale economies in 19th century agriculture outside the cotton South produced all of the following except
(a) More equal income distribution (b) Numerous family farms (c) The widespread need for schools (d) Large, corporate farms using the latest technology
According to the neoclassical growth model, if a country makes a policy change to increase its savings rate, in the new steady state:
a. output per worker will grow faster than before. b. output per worker will grow at the rate of technology growth. c. capital per worker will be permanently higher. d. all of the above.
An effluent fee is more effective when imposed on
A) the firm or producer of the product which generates pollution. B) the consumer of the product. C) neither the producer nor the consumer of the product. D) the supplier of the raw material used by the firm.
One characteristic of a public good is that it
A) is available for consumption by only a few individuals at any particular time. B) always eliminates the free-rider problem. C) can be consumed simultaneously by many individuals. D) can be easily subdivided into small units.