A laissez-faire economy has
A. very little government regulation of the economy.
B. rules that promote social equality.
C. a centrally planned economy.
D. a large amount of government regulation.
Answer: A
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A change in the price of hamburgers will change the supply of hot dogs.
Answer the following statement true (T) or false (F)
The above figure shows the marginal social benefit and marginal social cost curves of chocolate in the nation of Kaffenia. What is the marginal social benefit from the 100th pound of chocolate each day?
A) $1.50 per pound B) $1.00 per pound C) $0.50 per pound D) None of the above answers is correct.
Slutsky's theorem combines the Law of Large Numbers
A) with continuous functions. B) and the normal distribution. C) and the Central Limit Theorem. D) with conditions for the unbiasedness of an estimator.
If as the variable on the Y-axis falls the variable on the X-axis rises, the relationship between X and Y is said to be a negative relationship.
Answer the following statement true (T) or false (F)