Another description for capitalism is:

a. The socialist economy
b. The market system
c. The system of inputs and outputs
d. The command system


Ans: b. The market system

Economics

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Which of the following best defines capital as a factor of production?

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Consider the market for gasoline in a moderately large city. All else constant, it would be reasonable to conclude that the price elasticity demand for any individual gas station would be higher (more elastic) than the price elasticity of demand for

gas in general. Indicate whether the statement is true or false

Economics

During the 2007-2009 financial crisis the excess reserve ratio

A) increased sharply. B) decreased sharply. C) increased slightly. D) decreased slightly.

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Which of the following is likely to result in a higher equilibrium price? a. An increase in both demand and supply

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Economics