Which of the following is most important for the growth of income and full realization of an economy's potential?
a. a positive rate of time preference that motivates a high rate of current consumption
b. low real interest rates
c. the use of central planning to allocate investment funds
d. a mechanism capable of attracting savings and channeling them into investment projects that create wealth
D
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The Salvation Army is an example of a(n)
a. military organization b. not-for-profit organization c. partnership d. S-corporation e. U.S. government agency
A cartel is: a. a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves. b. a government-approved organization for the exchange of technical information among firms
c. an industry trade group formed to lobby political leaders d. a regulated industry manufacturers association that is officially permitted to set the price of its product above long-run average total cost.