Recognizing the incentive power of property rights and markets, some of the most die-hard central planners are now allowing
a. more influence from custom or religion
b. family relations to play significant roles
c. a role for markets
d. communal ownership of property
e. inefficient use of resources
C
You might also like to view...
An arbitrageur in foreign exchange is a person who
a. buys foreign currency, hoping to profit by selling it at a higher exchange rate at some later date b. earns illegal profit by manipulating foreign exchange c. causes differences in exchange rates in different geographic markets d. simultaneously buys large amounts of a currency in one market and sells it in another market e. mediates disputes when there is no agreement on exchange rates in international currency markets
A rise in the domestic interest rate leads to capital inflows, which make the exchange rate appreciate.
Answer the following statement true (T) or false (F)
To macroeconomists, investment is mainly the purchases of goods and services
A) by businesses. B) to hold as wealth, such as gold coins or art. C) to hold as wealth, such as stocks and bonds. D) by the government. E) ?b and c
The value of a producer's output minus the value of the inputs it purchases from other producers is called the producer's
A. surplus. B. gross product. C. value added. D. profit.