A successful market economy requires well defined property rights and
A) a safety net to ensure that those who cannot participate in the market economy can earn an income.
B) detailed government regulations.
C) balanced supplies of all factors of production.
D) an independent court system to adjudicate disputes based on the law.
D
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Corporations are legally owned by their board of directors
Indicate whether the statement is true or false
Refer to Table 23-3. Given the consumption schedule in the table above, the marginal propensity to save is
A) 0.1. B) 0.4. C) 0.7. D) 0.9.
Compare and contrast a general retail sales tax with a value added tax
What will be an ideal response?
Crowding out is when government borrowing and spending result in __________ interest rates, which reduces business investment and household consumption.
a. flat b. higher c. lower d. reduced