Exam 3: Economic Institutions

The largest source of household income in the United States is:

In a market economy, society relies on the self-interest of individuals to determine what, how, and for whom to produce.

Mercantilism was a system in which all of the following were true except:

Which of the following would most likely generate a positive externality?

In the mercantilist system:

Private property rights:

Membership in the Group of Seven consists of both developed and developing countries.

Which of the following statements is correct?

Which of the following countries is not a member of The Group of Seven?

Which of the following is a disadvantage of setting up a business as a corporation?

Suppose that at the current price, consumers would like to purchase 10 million large-screen televisions and 15 million are available. When the market coordinates the demand and supply for large-screen televisions, the price of large-screen televisions will:

One advantage of a partnership over a corporation is:

Which of the following organizations works with developing countries to secure low-interest loans that foster economic growth?

From the Great Depression in the 1930s until the tax reforms of the 1980s, the United States government integrated a number of what might best be called ________ institutions into the economy.

State and local governments do not receive income directly from which source?

Governments can make trading easier and more beneficial by:

In practice, distribution under socialism is primarily determined by:

Which of the following is not a characteristic of pure capitalism?

Which of the following is not an example of government's role as an actor?

Healthy food and charitable giving are examples of: