The Basic Principles of Economics Suggest That

question 80

Multiple Choice

The basic principles of economics suggest that

• A)markets are seldom,if ever,a good way to organize economic activity.
• B)government should become involved in markets when trade between countries is involved.
• C)government should become involved in markets when those markets fail to produce efficient or fair outcomes.
• D)All of the above are correct.

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Definitions:

Allies

Countries or entities that join forces or cooperate for a common purpose, often referring to the allied countries against the Axis Powers during World War II.

Norman Rockwell

An iconic 20th-century American painter and illustrator known for his depictions of everyday life in the United States, capturing the spirit and culture of the nation.

Saturday Evening Post

An American magazine that historically featured literature, journalism, and illustrations, known for its broad appeal and contributions to American culture and its iconic covers.

Essential Human Freedoms

Fundamental rights considered to be the inherent entitlements of all human beings, such as freedom of speech, religion, and equality before the law.