The right to openly support and to elect leaders in a democratic way is known as
A. political freedom.
B. economic freedom.
C. external freedom.
D. constitutional freedom.
Answer: A
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Equality of opportunity demands fair rules and does not require transfer programs
a. True b. False
Which of the following will be most likely to cause the production possibilities curve for a country to shift inward?
a. an increase in the labor force b. an increase in unemployment c. development of an improved technological method of production d. a decrease in the stock of physical capital
The production of methamphetamine (meth) is a social problem in the Midwest. Iowa is considering two potential programs: Operation Methbust would increase the number of sheriffs' deputies to search out and destroy methamphetamine labs. Operation Say No to Meth would increase the training required of public school teachers so that they could better educate students about the health risks of using meth. Assuming that each program were successful, which of the following statements is correct?
a. Both Operation Methbust and Say No would reduce the demand for meth.
b. Both Operation Methbust and Say No would reduce the supply of meth.
c. Operation Methbust would reduce the demand for meth; Operation Say No would reduce the supply of meth.
d. Operation Methbust would reduce the supply of meth; Operation Say No would reduce the demand for meth.
When production is characterized by persistently declining long-run average costs as output increases
A) the costs of production are greater when competition exists than when a single firm produces a good. B) it is impossible for two firms to compete in the market. C) the costs are lower if a single firm exists, and even if the firm is unregulated, price will still be lower with a single firm. D) there is no need for the government to limit competition by licensing requirements.