Socialism seeks to abolish the market-price system. In the economic way of thinking, socialism would therefore
A) generate tremendous economic growth.
B) overcome scarcity.
C) lead to a greater coordination among peoples' production and consumption plans.
D) allow everybody the opportunity to seek their comparative advantage.
E) accomplish none of the above.
E
You might also like to view...
In the late 1960s, the Friedman-Phelps "natural rate hypothesis" predicted from the microeconomic structure of the labor market that the long-run Phillips Curve is ________, while macroeconomic events caused a very ________ acceptance of this ch
in aggregate supply theory. A) horizontal, rapid B) horizontal, gradual C) vertical, rapid D) vertical, gradual
In 2005, the cash assistance program with the highest total annual payments was TANF
Indicate whether the statement is true or false
An increase in the price of gasoline will cause a(n)
a. an increase in the quantity of gasoline demanded b. decrease in the quantity of gasoline demanded c. no change in the quantity of gasoline demanded d. increase in the demand for gasoline e. decrease in the demand for gasoline
An externality is
a. always a benefit to the recipient b. always a detriment to the recipient c. an activity that occurs in a business that is unknown to management d. an unintended benefit or cost imposed on third parties resulting from market activity e. an act, caused by a firm located in this country, that has an effect on a person in a foreign country