The Great Depression and the New Deal transformed the U.S. into which type of economy?

An important condition required for economic growth is

A) economic freedom. B) a libertarian government. C) a totalitarian government. D) a democratic government. E) the incentive to limit international trade so that all economic growth remains within the country.

The above table has the total product schedule for Joe's Barber Shop. Joe charges $6 per haircut. If the wage rate is $24 per worker, what quantity of labor will maximize profits?

A) 1 worker B) 2 workers C) 4 workers D) 5 workers