When Competition Is Present and Private Ownership Rights Are Clearly

question 66

Multiple Choice

When competition is present and private ownership rights are clearly defined and securely enforced,

• A) production and trade are encouraged and plunder (taking from others) is discouraged.
• B) people get ahead by helping others in exchange for income.
• C) employers will have to provide prospective employees with at least as good a deal as they could get elsewhere.
• D) all of the above are correct.

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Definitions:

Money Supply

The overall level of financial resources available in an economy at a specific period, consisting of cash, coins, and funds in checking and savings accounts.

Chairman

The highest-ranking officer in a board of directors, responsible for leading the board's meetings and strategic direction.

Federal Reserve

The central banking system of the United States, responsible for monetary policy, bank regulation, and the stability of the financial system.

Fed Open Market Committee

The branch of the Federal Reserve responsible for open market operations, including the buying and selling of government securities, to influence the money supply and interest rates.