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
Economics
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Which of the following is true for both perfectly competitive and monopolistically competitive firms in the long run?
A) P = MC. B) MC = ATC. C) P > MR. D) Profit equals zero.
Economics
The firm becomes the dominant organization type whenever
a. markets exist b. markets don't exist c. the net value of centralized, organized production exceeds the net value of market-arranged production d. the net value of market-arranged production exceeds the net value of centralized, organized production e. private enterprise eliminates shirking
Economics