Outline the various actions the government sector could take to promote growth
What will be an ideal response?
The government should secure private property rights. Private property rights are crucial for a smoothly functioning market system. The government should create a court system that will enforce contracts. It should also assist in the development of the country's financial system. Additional endeavors include strengthening the education, communication, and transportation systems.
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Refer to Figure 10.1. The minimum feasible price is ________
A) P1 B) P2 C) P3 D) P4 E) none of the above
What best describes the US experience with banking from 1785 until the Civil War?
a. There was a national bank for the entire time period. b. The first two national banks were largely foreign owned. c. Only gold was used to back currency. d. Only national banks could print notes.