All of the following are associated with a mixed economy except
A. some public influence over the workings of free markets.
B. public ownership mixed in with private property.
C. public ownership of the society’s productive resources.
D. different countries blending the state and market sectors in different ways.
Answer: C
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Use the above table. Assuming constant opportunity costs, the opportunity cost of producing a gallon of wine in Argentina is
A) 0.33 pound of beef. B) 0.5 pound of beef. C) 2 pounds of beef. D) 3 pounds of beef.
After investigating an idea to open a rooftop restaurant in the downtown area of your community, you discover that any rooftop restaurant would violate city regulations. These circumstances would not be considered normal due to:
A. innovation. B. market failure. C. intervention. D. goals other than profit.
When one person enjoys the benefit of a tornado siren, she reduces the benefit to others
a. True b. False Indicate whether the statement is true or false
Which decade had the greatest growth in U.S. labor productivity?
a. 1870s b. 1920s c. 1940s d. 1960s