Which of the following is prerequisite of successful market economies?
A. the existence and enforcement of property rights
B. a tax system that redistributes income from the rich to the poor
C. the ability of the government to appropriate economic profits beyond a certain amount to ensure equality in income distribution
D. a military presence to ensure political freedom
Ans: A. the existence and enforcement of property rights
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The government strives to operate at neither a deficit nor surplus budget in order to keep the federal budget
A) balanced. B) in line with the stock market. C) equal to that of other countries. D) equal to inflation.
All of the following would shift the LRAS curve to the right EXCEPT
A) an increase in the size of the labor force. B) a net inflow of human capital. C) an increase in the overall price level. D) an improvement in technology.