The difference between Capitalism and Socialism is that
a. Capitalism is concerned more about how to slice up the "pie"
b. Socialism is concerned with making the "pie" as large as possible
c. Capitalism is concerned with making the "pie" as large as possible
d. Both a and B
c
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Which of the following is included in Germany's GDP?
i. BMWs produced in a German-owned factory in South Carolina ii. the value of the stocks sold on the German stock exchange, the Frankfurt Stock Exchange iii. china produced by the English-owned Wedgewood Company at a factory in Berlin, Germany A) i and iii B) ii only C) iii only D) i and ii E) None of the above answers is correct.
An example of a normative statement is:
A) The rate of unemployment is 4 percent. B) A high rate of economic growth creates more jobs for the country. C) The federal government spends half of its budget on national defense. D) Everyone in the country needs to be covered by national health insurance