The nation closest to a centrally planned, socialist economy is A. China. Japan. France. Germany. Australia.
The nation closest to a centrally planned, socialist economy is
| A. | China. |
| B. | Japan. |
| C. | France. |
| D. | Germany. |
| E. | Australia. |
Which economic system is usually associated with government ownership of the means of production and central planning?
| A. | Communism |
| B. | A market system |
| C. | Mercantilism |
| D. | Fascism |
| E. | Capitalism |
- Which statement is true? A. Our economic system leads to an equitable distribution of income. B. One of the basic functions of our government is to transfer some income from the rich and the middle class to the poor. C. The price mechanism and the definition of economics are incompatible. D.None of the statements are true.
Capitalism is an economic system in which the ownership of resources is mostly
| A. | private. |
| B. | collective. |
| C. | by government. |
| D. | All of the choices are true. |
| E. | None of the choices are true. |
Must answer all 4 questions !
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