In Karl Marx's view, people under the ideal state of communism would be motivated by the principle "from each according to his ability, to each according to his enterprise."
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose you withdraw $1,000 from your savings account and put it under your mattress. Briefly explain how this will affect M1 and M2
What will be an ideal response?
With moral hazard, fair insurance contracts are not viable because
a. individuals' aversion to risk is reduced. b. insurance company's administrative costs are increased. c. individuals fear unscrupulous agents. d. probabilities of loss are increased over what is expected.
Public saving is equal to national saving minus private saving
a. True b. False Indicate whether the statement is true or false
A country is likely to have a comparative advantage in a land-intensive activity if it has a:
A. large amount of capital equipment relative to its population. B. large population relative to its landmass. C. lot of land relative to its population. D. higher opportunity cost of producing technology.