Which would be characteristic of a capitalist economy?
a. Reliance on international treaties.
b. Competition and unrestricted markets
c. Democracy
d. Government ownership of the factors of production
b. Competition and unrestricted markets
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In recent years, the Fed has chosen to target interest rates rather than the money supply because
a. Congress passed a law requiring them to do so. b. the President requested them to do so. c. the money supply is hard to measure with sufficient precision. d. changes in the interest rate change aggregate demand, but changes in the money supply do not.
Depreciation is
A. added to GDP to get gross investment. B. subtracted from net investment to obtain gross investment. C. the difference between exports and imports. D. added to NNP to get GNP.
Since 1940, the level of tariffs in the United States has generally been:
A. Rising B. Higher than the period from 1820-1940 C. Lower than the period from 1900-1940 D. About the same as the period from 1900-1940
________ is an example of a common pool resource
A) Food B) Water C) National defense D) Wi-Fi