Which statement best describes a capitalist economy?
a. The production and allocation of goods and services is determined primarily through government
b. The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by government
c. The production of goods and services is determined primarily by government, but the allocation of goods and services is determined primarily by markets
d. The production and allocation of goods and services is determined primarily through markets
d. The production and allocation of goods and services is determined primarily through markets
You might also like to view...
During a contraction,
A) higher income tax revenues tend to automatically increase a budget deficit or reduce a budget surplus. B) higher income tax revenues tend to automatically increase a budget surplus or reduce a budget deficit. C) lower income tax revenues tend to automatically increase a budget deficit or reduce a budget surplus. D) lower income tax revenues tend to automatically increase a budget surplus or reduce a budget deficit.
In the 1990s, the Russian people lost confidence in the value of the ruble, and many were no longer willing to sell goods and services in exchange for Russian currency. Which characteristic of money did the Russian currency lack?
(A) Uniformity (B) Acceptability (C) Limited supply (D) Durability