Chapter 3: Problem 20
Capital comes from (LO6) a) gold c) high consumption b) savings d) the government
Chapter 3: Problem 20
Capital comes from (LO6) a) gold c) high consumption b) savings d) the government
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Get started for freeThe main reason the American farmer can produce more than the farmer in China is that he \- (LO6) c) has more labor a) has more land b) has more capital d) is better trained
The strongest indictment of the capitalist system was written by (LO7) a) Adam Smith c) Rose D. Cohen b) John Maynard Keynes d) Karl Marx
Wages, rent, interest, and profits flow from (LO3) a) business firms to households b) households to business firms c) business firms to the government d) the government to business firms
Adam Smith believed the best way to promote the public interest was to (LO2) a) have the government produce most goods and services b) let people pursue their own selfish interests c) wait for individuals to set out to promote the public interest d) get rid of the price mechanism
Private ownership of most of the means of production is common to (LO7) a) capitalism and communism b) capitalism and fascism c) capitalism and socialism d) fascism and communism
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