Which of the Following Was Not a Key Element in the Marcos

question 26

Multiple Choice

Which of the following was not a key element in the Marcos family's accumulation of a corrupt fortune in the Philippines?

• A) putting relatives and cronies in charge of state agencies
• B) counterfeiting money
• C) extracting kickbacks for awarding state contracts
• D) achieving dominance over the judiciary and the media

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Definitions:

Purely Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product, leading to price taking behavior.

Economic Profit

The difference between the total revenue generated by a business and its total costs, including both explicit and implicit costs.

Fixed Amounts

Specified quantities that do not change over a designated period of time or under particular conditions.

Total Product

The total quantity of output produced by a firm or economy during a given period.