The general set of rights to own private property and exchange goods, services, and financial assets with minimal government interference is defined as

A) capitalism.
B) market socialism.
C) economic freedom.
D) economic privilege.

C

Economics

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Your wage this year is $15 per hour and the CPI is 178. Next year you get a raise to $17 and the CPI rises to 185. What has happened?

A) Your real and nominal wages have each increased by the same percentage. B) Your real wage has increased but by a smaller percentage than your nominal wage. C) Your nominal wage has increased but your real wage has declined. D) Your nominal wage has increased but your real wage has not changed. E) Your real wage rate has increased by a larger percentage than your nominal wage.

Economics

If the central bank is facing the zero bound constraint and announces a higher inflation target,

A) the real interest rate will increase, which will decrease aggregate expenditure. B) the real interest rate will decrease, which will increase aggregate expenditure. C) the nominal interest rate will increase, which will decrease aggregate expenditure. D) the nominal interest rate will decrease, which will increase aggregate expenditure.

Economics