In Which of the Following Ways Do Both Communism and Mercantilism

question 31

Multiple Choice

In which of the following ways do both communism and mercantilism differ from liberalism?

• A) They typically employ relatively low tariff barriers.
• B) The state role in the economy is minimal.
• C) They agree that markets should play a role, if a limited one.
• D) They have more state autonomy and capacity.

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Definitions:

Subsequent Holder

An individual or entity that acquires a negotiable instrument after it has been initially issued.

Simple Contracts

Contracts that can be oral or written, not formalized by seal, and recognized by courts if they meet basic requirements like offer, acceptance, and consideration.

Negotiable Instruments

Written documents guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer usually not named.

Assignee

The party to whom rights or property are legally transferred through an agreement or contract.