MACROECONOMICS FOR TODAY
MACROECONOMICS FOR TODAY
10th Edition
ISBN: 9781337613057
Author: Tucker
Publisher: CENGAGE L
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Chapter 19, Problem 9SQ
To determine

The meaning of the term socialism.

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Individuals who wish for the state ownership of resources and for state control over economic activity are advocates of ________. A) capitalism   B) a synthetic economy   C) a market economy   D) a mixed economy   E) communism
The basic principles of economics suggest that   a.  markets are seldom, if ever, a good way to organize economic activity.     b.  government should become involved in markets when trade between countries is involved.     c.  government should become involved in markets when those markets fail to produce efficient or fair outcomes.     d.  All of the above are correct.
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