Which of the following is NOT a characteristic of the capitalist form of economic organization?
A. Central planning.
B. A reliance on decentralized market processes for resource allocation purposes.
C. Private ownership of productive resources.
D. All decisions are made by the government.
A. Central planning.
You might also like to view...
The value of output was $100 billion in Northland and $200 billion in Southland. The population of Northland was 50 million and the population of Southland was 30 million. There were 30 million employed workers in Northland and 20 million employed workers in Southland.
A. Southland; higher in Southland B. Southland; the same in both countries C. Northland; higher in Northland D. Northland; the same in both countries
What is the approximate number of Americans who have jobs?
a. 144 million b. 200 million c. 290 million d. 310 million e. 3.1 billion
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:
A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.
An increase in government spending will have no effect on real GDP if
A. the tax decrease is offset by an increase in government spending. B. the Ricardian equivalence theorem holds. C. people look at changes in taxes only in the present. D. there is no crowding out.