Ans: D) an independent court system to adjudicate disputes based on the law.
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.
Economics
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If the government raises taxes on labor income and interest income, explain how potential GDP and economic growth are affected
What will be an ideal response?
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The table above shows Mary's utility from chips and soda. Mary buys only chips and soda. Chips cost $2 per bag and soda costs $4 per six-pack. She has $20 to spend per week. To maximize her utility, Mary will buy
A) 5 sodas and 5 bags of chips. B) 3 sodas and 3 bags of chips. C) 8 sodas and 8 bags of chips. D) 6 sodas and 2 bags of chips.
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In the above figure, the equilibrium exchange rate between U.S. dollars and British pounds is
A) A. B) B. C) C. D) W.
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Health insurance features that tend to reduce moral hazard include
a. deductibles. b. coinsurance c. copayments d. all of the above
Economics