Under private enterprise, production is guided by _____________________________.
Fill in the blank(s) with the appropriate word(s).
the price mechanism
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If the level of investment in an economy is $4,000 and the GDP of the economy is $10,000, the savings rate in the economy must be:
A) 40%. B) 44%. C) 30%. D) 20%.
Needs-tested spending is defined as
A) spending by the President on the White House. B) spending on programs for people qualified to receive benefits. C) spending that increases in expansions and decreases in recessions. D) taxes paid by those qualified by their income. E) spending by Congress on its own perks of office.
Which of the following is TRUE?
I. Checks are considered money because they can be used as a medium of exchange. II. Checks represent a transfer of money. A) I only B) II only C) both I and II D) neither I nor II
The collapse of communism in eastern Europe after 1989 created a major shift in the world and led to what is known as the
a. global war on terror. b. free market society. c. rise in multipolarity. d. third wave of democratization.