11. Which of the following is NOT a benefit of a capitalist economy? O Investing, as in giving your money to certain companies. O Free Enterprise, as in you have the freedom to enter and exit the market as you want. Profit Seeking, as in money motivate people to go to work and start their own business. O Government protection, as in the government makes sure all of your money is safe.

11. Which of the following is NOT a benefit of a capitalist economy? O Investing, as in giving your money to certain companies. O Free Enterprise, as in you have the freedom to enter and exit the market as you want. Profit Seeking, as in money motivate people to go to work and start their own business. O Government protection, as in the government makes sure all of your money is safe.

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 5PA

See similar textbooks

Similar questions

Economics In economics, Economies of Scope occur when: O The production possibilities curve is reduced to one good O It is less costly for a manufacturer to produce a new good if it is already producing another good O New products expand the scale of operations O Corporate vision is driven by long-term outcomes over short-term gains
The production possibility curve shows all the following except O a. Economic growth O b. The law of demand O c. The supply curve of 2 goods O d. The law of increasing opportunity cost O e. Inefficiency in production
The possible combinations of two goods that can be produced in a certain period of time under certain conditions of technology and fully employed resources: O a. Scarcity O b. Central problem O C. Opportunity Cost O d. Production possibility
A business model explains: Select one: O a. How the organization creates value O b. How the organization captures value O c. How the organization delivers value O d. All of the above
Use the cause-and-effect chart to answer the question. Cause Effect Technology allows the transfer of goods and services through the use of computers. Which of the following best completes the chart? O A. E-commerce is slow and frustrating, so people still prefer to shop in stores. B. E-commerce is a large and growing sector of the global economy. C. E-commerce is dangerous to consumers and requires heavy regulation. D. E-commerce has failed to connect producers and consumers all over the world. wered pe here to search F6 F7 F8 F9 F10 F11 F2 F3 F4 F5 & %23 3 4. 7 60 立

All of the following basic economic questions deal with microeconomics EXCEPT: a. How is the supply of goods allocated among the members of the society? O b. Is the economy's capacity to produce goods growing over time? What goods and services are being produced and ion what quantities? O d. By what methods are goods and services being produeed? C. All of the following economic questions deal with microeconomics EXCEPT: a. Are the country's resources being fully utilized or are some lying idle? O b. How is the supply of goods allocated among members of the society? c. Is purchasing power being eroded because of inflation? Od. Is the economy's capacity to produce goods growing over time?
7. What is scarcity? In market economies, what determines the distribution of scarce goods and resources?
What happens if a country produces a combination of goods that efficiently uses all of the resources available in the economy? 100- O A. The country has eliminated scarcity. O B. The country is maximizing its opportunity cost. A 80- c. The country is operating on its production possibilities frontier. B G O D. All of the above occur if a country uses all available resources. 60- Refer to the graph to the right. What is the opportunity cost of moving from point B to point C? 40- O A. 40 sedans 30 F **... O B. 40 SUVS D 20- O C. 20 sedans O D. 20 SUVS 10 50 E 20 40 60 80 100 Quantity of SUVS produced per day Quantity of sedans produced per day
The problem of choosing the appropriate production techniques refers to which type of economic problem? O a. What to produce? O b. How to adchieve economic growth? Oc For whom to produce? Od. How to produce? There is a graph showing all the combinations of goods and services that can be produced using the available resources in the society. The graph is called as, O a. None of these O b. Production possibility curve Oc Demand curve O d. Supply curve An individual is called a 'seller if he has the O a willingness to sell tof O b. ability to pay seshon Oc desire to buy Od. ability to buy
If someone was to conduct a study in the field of microeconomics, which of the following questions might they attempt to answer? Select the correct answer below: O What causes the economy to grow over the long term? What determines the level of economic activity in a society? What determines how many jobs are available in an economy? When will a firm decide to expand, downsize, or close?
a. Suppose that businesses buy a total of $100 billion of the four resources (labor, land, capital, and entrepreneurial ability) from households. If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest, how much are households paid for providing entrepreneurial ability? billion b. If households spend $55 billion on goods and $45 billion on services, how much in revenues do businesses receive in the product market? billion
6. Which one of the choices is NOT a characteristic of a capitalist economy? a. Profit motive b. Consumer's freedom c. Private ownership of resources d. State control of the factors of production