All of the following are critical functions of the government in facilitating the operation of a market economy except
A) enforcing contracts.
B) ensuring an equal distribution of income to all citizens.
C) protecting private property.
D) enforcing property rights.
B
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The Phillips curve illustrates the relationship between
a. change in the money supply and change in unemployment. b. tax rates and tax revenues. c. the equilibrium level of income and the employment rate. d. inflation and unemployment.
Explain the effect of right-to-work laws on the collective bargaining power of labor unions
When analyzing the effects of changes in demand in an open economy, we assume that firms:
a. have only one fixed rate of return on various projects when deciding investment activity. b. have differing returns on various projects when deciding investment activity. c. are required to borrow only from domestic banks when funding investment activity. d. consider the effects of inflation on investment activity.
Corporation A is planning on expanding the size of its factory given the amount they want to produce. Corporation A is now operating in the
A. corporation time. B. short run. C. production time. D. long run.