Capitalism is an economic system in which the ownership of resources is mostly
A. private.
B. collective.
C. by government.
D. All of the choices are true.
A. private.
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Why did the fall in housing prices lead to bank failures in the U.S. during 2007-2009?
What will be an ideal response?
As a percentage of total federal expenditures, national defense spending has _____ since the mid 1950s
a. slightly increased b. risen precipitously c. essentially stayed the same d. declined
An appropriate test of the effectiveness of an economic model is
A) the number of variables contained within the model. B) the model's ability to predict future economic activity. C) the number of economists who have worked on the model. D) the number of assumptions which the economist has made.
The benefits-received principle of taxation is used to support corporate and personal income taxes.
Answer the following statement true (T) or false (F)