Refer to Figure 19-3. If the Thai government pegs its currency to the dollar at a value above $.03/baht, we would say the currency is
A) undervalued. B) equilibrium valued.
C) overvalued. D) parity valued.
C
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When scarce resources can serve only one user at a time in sequence, which method works well for allocating the scarce resources?
A) first come, first served B) lottery C) contest D) command system
The federal government's earned-income tax credit
a. provides support only for elderly and disabled poor b. represents a type of in-kind transfer program c. provides food assistance to the working poor d. reduces taxes if the poor buy housing e. offers an income tax refund to the working poor greater than the taxes they paid
Which of the following is not a characteristic of pure capitalism?
A. Government ownership of means of production B. Private ownership of land C. Worker freedom D. Freedom of enterprise
Socialism in theory is based on the principle that individuals should:
A. cooperate with one another to meet their needs. B. rely on the government to meet their needs. C. look out for their own interests and let the government look out for the public interest. D. compete with one another to meet their needs.