The U.S. has a mixed economy because
A. the government helps in answering the three basic questions of economics: what, how and for whom.
B. the laissez faire market system lacks government intervention.
C. all goods and services are provided privately.
D. the central planning body makes all market decisions.
A. the government helps in answering the three basic questions of economics: what, how and for whom.
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In the classical model, an increase in aggregate demand will lead to an increase in wage rates while a decrease in aggregate demand will
A) change the price of capital. B) leave wages unchanged since workers will not take a cut in pay. C) increase wages since business will be desperate for labor. D) decrease wages.
The compulsory military service in the United States which was required from 1940 until 1973 was known as the draft
Indicate whether the statement is true or false