Which of the following is a distinguishing feature of laissez-faire capitalism?
A. Public ownership of all capital.
B. Central planning.
C. Minimal government intervention.
D. A circular flow of goods, resources, and money.
Answer: C
Economics
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If the equilibrium price of a good decreases and the equilibrium quantity of the good decreases, we can conclude that
A) demand decreased. B) supply increased. C) demand increased. D) supply decreased.
Economics
In the Solow model, if saving per worker initially exceeds investment per worker,
A) the economy will experience inflation. B) the capital—labor ratio will increase. C) investment per worker will decline. D) saving per worker will decline.
Economics