An example of a government policy to provide a framework within which the private sector can operate productively is:
A. government ownership of capital.
B. the suppression of political dissent.
C. the taxation of savings.
D. establishing well-defined property rights.
Answer: D
Economics
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If workers and firms have rational expectations, they form their expectations using
A) only information provided to them by the government. B) only information from the past. C) only information gathered from random sources. D) all the information available to them.
Economics
Which of the following is true in a perfectly competitive market?
a. The sellers can partially influence the price level in the market. b. All firms have identical costs. c. Entry or exit of new sellers into the market is restricted. d. Buyers and sellers have incomplete information about the product and the market.
Economics