Of the various types of economic systems, pure market capitalism involves the greatest government interference and control over the economy
a. True
b. False
B
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Explain the difference between the short run and the long run in terms of the number of firms in a competitive market
Price controls are used to ______.
a. alter the natural market equilibrium price b. prevent changes to the natural market equilibrium price c. reduce government influence on the natural market equilibrium price d. eliminate taxes at the natural equilibrium price
Of the categories of spending listed below, which is the smallest component of the market basket?
A. Food at home B. Education C. Apparel D. Medical care
Which of the following is true?
A) If an exchange rate is allowed to vary across a fixed basket of currencies, it is called a hard peg. B) If an exchange rate is not allowed to vary against the target currency, it is called a soft peg. C) If an exchange is only allowed to fluctuate within a set band, it is considered to be a flexible exchange rate system. D) A soft peg is when a currency's exchange rate is only allowed to fluctuate within a set band.