Which of the Following Would Most Likely Characterize a Nation

question 110

Multiple Choice

Which of the following would most likely characterize a nation with a high degree of economic freedom?

• A)Low tariffs
• B)Wage controls
• C)Price controls
• D)Flourishing black markets

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Definitions:

Labor Supply

The total hours that workers or employees are willing to work at a given wage rate, or the availability of workers available to work in an economy.

Flexible Manufacturing

A system that allows for easy adaptation to changes in product design and demand by using versatile equipment and computer systems.

Remote-Controlled Carts

Wheeled conveyances operated from a distance using electronic remote control, often utilized for carrying goods or performing specific tasks.