Answer the following statement(s) true (T) or false (F)
1. Rules are directives that determine how resources are allocated, and they determine how we try to get the things we want.
2. In a socialist economy, the market controls economic decisions.
3. In a laissez-faire capitalist society, there are no restrictions on the market at all, making the economy subject to wild swings up and down.
4. Politics is the system or organization for exercising authority over a body of people.
5. Those who live under an authoritarian-style government are known as citizens.
1. True
2. False
3. True
4. False
5. False
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The state is the only actor with the legal monopoly to
a. tax. c. use force. b. provide security. d. colonize.
With respect to the power of the presidency, what was the effect of the Reciprocal Trade Agreement Act?
A)It did not immediately augment presidential power because the president had to ask Congress for permission to engage in trade talks with other countries. B)It greatly expanded presidential power by granting fast-track authority in trade negotiations with other states. C)It decreased the power of the president in managing the economy by enhancing congressional oversight over trade policy. D)It quickly expanded presidential power in economic policy through the legitimization of executive agreements.
Who is included in the unemployment rate?
a. people who have taken jobs below their skill levels b. stay-at-home parents who are not looking for jobs c. able-bodied workers who are looking for jobs but cannot find them d. people who would like to work, but have given up on finding a job
Congress is a political institution
Indicate whether this statement is true or false.