Which philosophy supports the idea that people should be free to make their own decisions?
A. Traditional
B. Libertarian
C. Fascist
D. Communist
Answer: B
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The aggregate savings in an economy is $1,750 and the GDP of the economy is $55,000. The savings rate in the economy is:
A) 1.8%. B) 3.15%. C) 10%. D) 8.96%.
Taxes and in-kind transfers make the distribution of income more unequal
a. True b. False
What do supply and demand curves have in common?
a. They both usually slope upward. b. They both show a relationship between quantity and price. c. They both usually slope downward. d. They can both shift in response to changes in income or wealth. e. Neither of them is influenced by the size of the population.
Which of the following would shift a nation's entire production possibilities curve outward?
a. moving from less than full employment to full employment.
b. developing a more efficient technology.
c. more efficiently allocating productive resources already available.
d. All of these.