Economic systems can be classified based on
a. the ownership of resources only
b. the ownership of resources, the types of crops grown, and the incentives used to motivate people
c. the way resources are allocated to produce goods and services and the incentives used to motivate people only
d. the ownership of resources, the way resources are allocated to produce goods and services, and the incentives used to motivate people
e. the ownership of resources, the way resources are allocated to produce goods and services, and the average education of workers
D
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Which of the following best describes chattel slavery?
(a) It provided protected property rights to the slaves. (b) It offered property rights to the slave owners. (c) It involved the establishment of a voluntary contract between slave and slave owner. (d) It created wealth for the slave and slave owner.
Which of the following would NOT be an asset on a bank's balance sheet?
A) loans outstanding B) bank building C) cash in the vault D) transactions deposits