Economic freedom is present, at least in part, when
A) there are no property rights to limit people's freedom.
B) there is no private property.
C) people are able to make personal choices.
D) there is no government.
E) money is free.
C
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The Fed can use contractionary monetary policy in an attempt to keep inflation from increasing
Indicate whether the statement is true or false
Perfectly competitive firms are said to be "small." Which of the following best describes this smallness?
A) The individual firm must have fewer than 10 employees. B) The individual firm faces a downward-sloping demand curve. C) The individual firm has assets of less than $2 million. D) The individual firm is unable to affect market price through its output decisions.
In a many-worker economy the consumption possibilities line touches the production possibility curve
A. at more than three points. B. at two points. C. at one point. D. at three points.
Which of these social sciences deals most with models of behavior rather than with thought processes?
A) psychology B) sociology C) political science D) economics