Opponents of land nationalization argue that private ownership:
A. Allows rent to function as an efficient allocation mechanism
B. Is fair in terms of equalizing income distribution
C. Follows the natural order of things in society
D. Is consistent with detailed government planning for land use
A. Allows rent to function as an efficient allocation mechanism
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In an open market purchase, the Fed ________ government securities, which ________ bank reserves
A) buys, increases B) buys, decreases C) sells, increases D) sells, decreases
According to Prebisch and other ISI theoreticians, countries should begin to shift their comparative advantage away from primary commodity production by first producing
A) industrial goods such as pumps and generators. B) complex consumer goods such as autos and appliances. C) advanced industrial goods such as chemical and electronics. D) simple consumer goods such as food products and textiles. E) minerals and agricultural products.