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verified
Multiple Choice
A) More rapid economic growth.
B) Higher taxes than in past years.
C) Increasing reliance on markets to determine economic outcomes.
D) An increase in the number of insurance companies.
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verified
True/False
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True/False
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True/False
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Multiple Choice
A) Socialism at work.
B) The principle of comparative advantage.
C) The invisible hand concept.
D) The multiplier principle.
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True/False
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verified
Multiple Choice
A) Under socialism,the government owns most businesses,while under communism the church owns most businesses.
B) Both socialism and communism want to achieve a more equal distribution of income and wealth,but under communism,the government takes more control over people's lives.
C) Socialism strives for an equal distribution of income but communism wants income to go primarily to those who own and operate private businesses.
D) Communism believes that the government should always strive to balance its budget,while socialism accepts deficit spending as the price of achieving true equality.
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True/False
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Multiple Choice
A) Eminent domain.
B) Freedom of expression.
C) Freedom of choice.
D) Freedom of competition.
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True/False
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Multiple Choice
A) A move toward nationalism.
B) A move toward communism.
C) A move toward socialism.
D) A move toward capitalism.
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True/False
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True/False
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Multiple Choice
A) Monopolistic competition.
B) Perfect competition.
C) An oligopoly.
D) A monopoly.
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Multiple Choice
A) Agrees with the ideas of Thomas Malthus.
B) Does not accept the "invisible hand" idea brought forth by Adam Smith.
C) Is unaware of the fact that most businesses in the United States are owned by the government.
D) Does not realize that government regulation is already the main determinant of business decisions in capitalist economies.
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True/False
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Multiple Choice
A) Lower interest rates.
B) An increase in the size of the government's budget deficit.
C) Lower government spending.
D) An increase in the minimum wage.
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Multiple Choice
A) Permit government owned industries,such as telecommunications,transportation,and energy,and operate these firms as nonprofit organizations.
B) Allow private ownership of businesses,but make use of extensive regulation to force businesses to behave in a socially desirable way.
C) Allow entrepreneurs personal freedom to follow their own self-interest.
D) Impose high taxes on individuals,and use the revenue to subsidize businesses to encourage them to produce the maximum rate of output.
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verified
Multiple Choice
A) Communism.
B) Capitalism.
C) Ethnocentrism.
D) Socialism.
Correct Answer
verified
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