Under a communist system,
A. consumer decisions are not influenced by prices.
B. resources are owned and controlled by the government.
C. individual freedom is maximized.
D. the market guides resources, but the state dictates what should be produced.
B. resources are owned and controlled by the government.
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Japan has a single-payer health care system in which the government provides national health insurance to all Japanese residents
Indicate whether the statement is true or false
When President Obama took office in January 2009, he pledged to pursue an expansionary fiscal policy to try to pull the economy out of the recession
The next month, Congress passed the American Recovery and Reinvestment Act of 2009, a $840 billion package of ________ that was the largest fiscal policy action in U.S. history. A) interest rate reductions and increases in the money supply B) treasury bond purchases and mortgage-backed securities purchases C) commercial and investment bank bailouts D) spending increases and tax cuts
A prohibitive tariff has
A) only revenue effects. B) only protective effects. C) both protective and revenue effects. D) neither protective nor revenue effects.
In Keynes's liquidity preference framework
A) the demand for bonds must equal the supply of money. B) the demand for money must equal the supply of bonds. C) an excess demand of bonds implies an excess demand for money. D) an excess supply of bonds implies an excess demand for money.