In order to achieve a high economic freedom rating, a country must
a. elect political officials democratically.
b. protect property rights, enforce contracts even-handedly, and rely extensively on markets to allocate goods and services.
c. provide citizens with housing, health care, and other basic goods free of charge.
d. use the taxing power of the state to redistribute income from the rich to the poor and thereby promote income equality.
B
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Charitable donations to the Red Cross
A) can be explained by the rational ignorance theory. B) can be explained by the rational self-interest theory. C) cannot be explained by the rational self-interest theory. D) prove that there is no scarcity in the United States.
As a result of moving more decision making from the periphery of the organization toward the center, typically
a. the flow of relevant information to the decision maker can be weakened b. the flow of relevant information from the decision should be enhanced c. the incentive structure for the decision maker should be strengthened d. incentive compensation at the periphery can be weakened
A monopolistically competitive firm chooses its
a. price and quantity just as a monopoly does. b. quantity but faces a horizontal demand curve just as a competitive firm does. c. price but can sell any quantity at the market price just as an oligopoly does. d. price and quantity based on the decisions of the other firms in the industry just as an oligopoly does.
If an American-based firm opens and operates a factory in China, then it is engaging in
a. foreign portfolio investment. b. foreign financial investment. c. foreign direct investment. d. indirect foreign investment.