The term "socialism" refers to which of the following?
a. An economic system characterized by voluntary allocation.
b. A religion centered on community interaction.
c. An economic system characterized by private ownership of resources, and decentralized market-price allocation.
d. An economic system characterized by government ownership of resources and centralized allocation.
d
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To join the EMU, a country must have a public debt below or approaching a reference level of
A) 50 percent of its GDP. B) 10 percent of its GDP. C) 60 percent of its GDP. D) 100 percent of its GDP. E) 5 percent of its GDP.
A newspaper headline announces that "more college graduates than ever are in the labor force." This is an example of
a. microeconomic analysis b. an abstraction c. a value judgment d. a positive statement e. macroeconomic analysis