Ans: C. free market economy
"The Jungle", Upton Sinclair describes the meatpacking industry in Chicago at the beginning of the twentieth century. The unregulated meatpacking companies had very low health and safety standards, and they exploited their employees unmercifully. Sinclair was describing a
A. socialist economy
B. communist economy
C. free market economy
Economics
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Which of the following statements is FALSE?
A) A perfectly inelastic supply curve is a vertical line. B) Time is an important consideration in determining supply elasticity. C) Price elasticity of supply can never equal 1. D) A horizontal supply curve is possible.
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A liquidity provider is someone who:
A. helps make a market more liquid by being always ready to buy or sell an asset. B. works at a bank and specializes in loans. C. works in the financial system. D. invest in the economy.
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Which of the following is an automatic stabilizer?
I. inheritance taxes II. government payments to war veterans III. aid to families with dependent children IV. sales taxes A) I, II, III, and IV B) I, II, and III only C) II and III only D) III only
Economics
The Federal Reserve was created in:
A. 1893. B. 1913. C. 1921. D. 1933.
Economics