One of the strengths of a socialist economy, according to those who advocate such a system, is that government intervention will enable a more equitable distribution of income and therefore goods and services produced

In a monopsony labor market, imposition of a minimum wage will

a. reduce employment b. increase unemployment c. cause employers to actually reduce wages d. reduce the number of people looking for work e. none of the above

The economy will grow from points B to G in Figure 10-3 above over time because

A) per person saving and steady state investment will remain stable at points C and D respectively. B) per person capital will grow, point D to E since per capita savings exceed steady state investment, point C is greater than point D. C) per person capital will grow, point D to E since per capita savings is less than steady state investment, point C is greater than point D. D) per person saving and steady state investment will remain stable at points D and C respectively.