Which of the following is NOT an economic function of government?
A) providing a legal system
B) ensuring economic stability
C) providing government-inhibited goods
D) promoting competition
Answer: C
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The three elements of a game are:
A. the costs, the revenue, and the profit. B. the firm, the consumers, and the profit. C. the players, the strategies, and the payoffs. D. the model, the graph, and the costs.
Is the United States a command economy, a laissez-faire economy, or neither? Explain
What will be an ideal response?
The government enforces property rights by
a. requiring property owners to pay property taxes. b. providing police and courts. c. forcing people to own property. d. providing public parks and recreation facilities.
In the Keynesian model in which the Keynesian short-run aggregate supply curve exists
A. aggregate demand determines real GDP per year. B. unemployment cannot persist for long periods of time. C. the aggregate demand curve determines the price level. D. the short-run aggregate supply curve determines real GDP.