Question 1

In the former Soviet Union most goods and services were produced by _____________; in the United States most goods and services are produced by ____________.

Accepted Answer

A) the government; private enterprise 
B) the government; the government 
C) private enterprise; the government 
D) private enterprise; private enterprise 
A) the government; private enterprise 
B) the government; the government 
C) private enterprise; the government 
D) private enterprise; private enterprise

Question 2

Which of the following economists believed that the factory owner, by paying his workers meager wages, was able to use this surplus to buy more capital goods?

Accepted Answer

A) Adam Smith 
B) Thorstein Veblen 
C) Milton Friedman 
D) Karl Marx 
E) John Maynard Keynes 
A) Adam Smith 
B) Thorstein Veblen 
C) Milton Friedman 
D) Karl Marx 
E) John Maynard Keynes

In the former Soviet Union most goods and services were produced by _; in the United States most goods and services are produced by .

Which of the following economists believed that the factory owner, by paying his workers meager wages, was able to use this surplus to buy more capital goods?

A Brief Economic History of the United States

Resource Utilization

Supply and Demand

Demand, Supply, and Equilibrium

The Price Elasticities of Demand and Supply

Theory of Consumer Behavior

Cost

Profit, Loss, and Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Corporate Mergers and Antitrust

Demand in the Factor Market

Labor Unions

Labor Markets and Wage Rates

Rent, Interest, and Profit

Income Distribution and Poverty

International Trade

International Finance

Filters

Exam 3: The Mixed Economy

In the former Soviet Union most goods and services were produced by _____________; in the United States most goods and services are produced by ____________.

Which of the following economists believed that the factory owner, by paying his workers meager wages, was able to use this surplus to buy more capital goods?

A Brief Economic History of the United States

Resource Utilization

Supply and Demand

Demand, Supply, and Equilibrium

The Price Elasticities of Demand and Supply

Theory of Consumer Behavior

Cost

Profit, Loss, and Perfect Competition

Monopoly

Monopolistic Competition

Oligopoly

Corporate Mergers and Antitrust

Demand in the Factor Market

Labor Unions

Labor Markets and Wage Rates

Rent, Interest, and Profit

Income Distribution and Poverty

International Trade

International Finance

Filters

In the former Soviet Union most goods and services were produced by _; in the United States most goods and services are produced by .