Economic freedom is crucial for achieving economic growth because ______.
A. it gives the incentive to save, invest, expand human capital, and discover and apply new technologies
B. it ensures that the majority of citizens make the most important decisions
C. only good government can make the right investment decisions
D. it protects workers' rights and prevents unfair firing
E. it upholds democracy, which is essential if an economy is to grow
A. it gives the incentive to save, invest, expand human capital, and discover and apply new technologies
You might also like to view...
Product differentiation in monopolistically competitive markets ensures that, for profit-maximizing firms,
a. marginal revenue will equal average total cost. b. price will exceed marginal cost. c. marginal cost will exceed average revenue. d. average variable cost will be declining.
Answer the following statements true (T) or false (F)
1. If the decrease in supply is less than the decrease in demand, then the equilibrium price will decrease. 2. A price ceiling imposed by the government is intended to benefit the sellers of the product. 3. An effective price ceiling will lower the equilibrium price and cause a surplus. 4. In response to the general public's complaints about "price gouging" by sellers, the government could impose a price floor.