Economic freedom:
a. is the right to own property.
b. means not having to pay taxes.
c. is absent in rich countries.
d. affects only poor people.
e. is the ability to engage in voluntary trade.
e
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In the figure above, suppose the economy is initially at point B. Then the interest rate in Japan rises relative to the interest rate in the United States. This change ________ the supply of dollars and the market moves to a point such as ________
A) decreases; A B) decreases; E C) increases; D D) increases; C
The J curve implies that a real depreciation will cause
A) the nominal exchange rate to appreciate in the short run and depreciate in the long run. B) the nominal exchange rate to depreciate in the short run and appreciate in the long run. C) net exports to fall in the short run and rise in the long run. D) net exports to rise in the short run and fall in the long run.