The final dollar value of all goods and services produced in a one-year period is the
A. employment rate.
B. national debt.
C. deficit.
D. gross national product.
E. gross domestic product.
Answer: E
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Which of the following is characteristic of centrally planned economies?
A) Government officials set prices. B) Religious authorities decide production quotas. C) They were dominant in Africa during the Cold War. D) Governments cannot guarantee the basic needs of citizens.
Why does the bureaucracy tend to favor solutions that are only an incremental departure from an existing program?
What will be an ideal response?
Edward Freeman argues that externalities, moral hazards, and monopoly power have led to more control of corporate decisions by
a. Capitalist values, like money-making b. Socialist values, like collectivity c. Internal stakeholders, like employees d. Internal controls, like boards of directors e. Outside forces, like the government
Distributive policies
a. take resources from one group and allocates them to a more disadvantaged group. b. tend to receive less public support than do redistributive policies. c. are exemplified by programs that help the poor. d. tend to receive more public support than do redistributive policies. e. are extensively used to regulate public safety and welfare in the United States.