Laissez-faire economists favor government intervention in the market process.
Answer the following statement true (T) or false (F)
False
Laissez-faire economists believe that government intervention in the economy will make things worse and do not favor government intervention for this reason.
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If a firm is a price taker, its marginal revenue is
a. equal to market price. b. less than market price. c. greater than market price. d. a multiple of market price that may be either greater than or less than one.
A higher interest rate makes _____ less attractive. Therefore the quantity of loanable funds demanded decreases
Fill in the blank(s) with correct word
When the price of potato chips decreases, the demand for potato chip dip increases. This effect is measured by ______ elasticity of demand.
a. unit b. revenue c. cross-price d. income
If a manager believes there are too many pay levels and would like to reduce the number of pay levels from 30 to 20 by combining multiple pay levels, it will engage in _______.
A) team sharing B) piecework C) profit sharing D) broadbanding