The major virtues of the market system include all of the following, except:
A. It promotes an efficient allocation of resources
B. It leads to equality in the distribution of income
C. It provides incentives for greater production and higher incomes
D. It emphasizes the freedom to pursue self-interest
Answer: B
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A temporary decrease in government purchases would ________ the domestic real interest rate and ________ net desired saving (desired saving less desired investment) in the economy
A) lower; increase B) lower; decrease C) raise; increase D) raise; decrease
According to data on Pennsylvania agriculture in the 18th century, the average size of a farm _________, while the output per farm ______________
a. increased; decreased b. decreased; increased c. decreased; remained fairly stable d. remained fairly stable; increased