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Economics
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How does the government of a republic typically shape its economy?

A) The government allows citizens to own private businesses.

B) The government blocks the ownership of personal property.

C) The government owns all homes and other forms of housing.

D) The government controls factories and other forms of production.

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Sixta Kovacek
Sixta KovacekLv2
25 Mar 2020
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Related questions

Which of the following is characteristic of a country with a planned economic system?
a. The economy subscribes to capitalistic competition, where private parties own and operate the majority of businesses.
b. The economy relies chiefly on market forces to allocate goods and resources and to determine prices.
c. The economic system combines private and state enterprises with limited intervention from the government.
d. The economy is largely controlled by the government and freedom of choice is limited in order to accomplish government goals.
e. The economic system is primarily capitalistic but there is some degree of government ownership of the means of production.

A mixed economy is one in which ________.

A) both resources and means of production are extremely limited and generally confined to agricultural produce

B) the government or other centralized group determines and controls all resources and means of production

C) both individuals and government control resources and determine production methods

D) either individuals or private firms control resources and determine production methods

E) there is no government intervention whatsoever in the industry

Identify how each of the scenarios affects the short-run aggregate supply curve.

a. The U.S. government increases the minimum wage.

b. Widespread adoption of the Internet by businesses increases productivity and efficiency.

c. The government decreases the payroll tax paid by employers.

d. A financial crisis causes businesses to anticipate a recessionary economy within the coming months.

e. The U.S. government decreases the personal income tax rate paid by households.

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