The economy of Cuba most closely approximates:
a. A market economy
b. A command economy
c. Pure capitalism
d. Laissez-faire capitalism
b. A command economy
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The substitution effect from a rise in the price of pizza
A) leads to a movement along the fixed budget line, due to a change in relative prices. B) increases the quantity demanded of pizza. C) decreases the quantity demanded of pizza. D) Both answers A and B are correct.
A good that is rival in consumption is one that someone can be prevented from using if she did not pay for it
a. True b. False Indicate whether the statement is true or false
What is one role of the federal government's Department of Justice?
(A) To eliminate all barriers to entry. (B) To break up monopolies. (C) To encourage price fixing. (D) To provide businesses with loans for start-up costs.
Before World War II, state and local government revenue comprised about
a. less than one-third of total government revenues. b. 10% of total government revenues. c. more than half of total government revenues. d. 0% of total government revenues.