Which of the following statements is true?
a. The United States today comes closer to the socialist form of economic organization than it does capitalism.
b. When central planners set prices above equilibrium for goods and services they create shortages.
c. According to Karl Marx, under capitalism, workers would be exploited and would revolt against the owners of capital.
d. Adam Smith argued that government's role in society would be to do absolutely nothing.
c
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The capacity utilization rate is the ratio of ________ to ________
A) production; capacity B) capacity; production C) capacity; potential GDP D) none of the above
Which of the following factors affecting decision-making is studied by Behavioral Game Theory?
A) psychological biases B) limited power of calculation C) weather forecast D) A and B are correct
Which of the following cannot be classified as a market structure?
a. Oligopoly b. Monopolistic Competition c. Mergers d. Perfect Competition
Which of the following is not included as "net income" in the U.S. balance of payments?
a. Income paid by a U.S. company to foreign consultants. b. Profits earned by U.S. companies from foreign operations. c. Foreign dividends received by U.S. residents. d. Profits earned by U.S. companies from foreign operations and reinvested abroad. e. All the above are includedas net income in the U.S. balance of payments.