According to the Keynesian view, capitalism
a. is a highly productive form of economic organization that works best when government intervention is least.
b. experiences booms and busts because of the instability of private investment that is driven by fickle changes in business optimism.
c. experiences booms and busts that are primarily the result of inappropriate monetary policy.
d. experiences fluctuations in aggregate demand that cannot be controlled with fiscal policy.
B
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Governance mechanisms are designed
a. to increase contracting costs b. to resolve post-contractual opportunism c. to enhance the flexibility of restrictive covenants d. to replace insurance e. none of the above
Which of the following accounts for the largest percentage of federal taxes?
a. gift taxes b. social security tax c. individual income taxes d. corporate income taxes