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Government economic planning has a historically better record of creating prosperity than the free market.
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- List the variety of policy tools available to government for increasing the rate of return for new technology and it's encouraging development.Describe several ways that governments can foster entrepreneurship and encourage the creation of wealth.What are the major tenets of neoliberal economic policy?
- Describe three ways a government policymaker can try to raise the growth in living standards in a society. Are there any drawbacks to these policies? Which one if any do you think is most plausible?Most economic problems arise in consequence of changes of circumstance. True or FalseMarket Economies and private enterprises replaced state-controlled economies and services. True False
- Capitalism is a market-driven economy, characterized by government ownership of resources, and profits that are shared equally among the populace. True or false?Given that most entrepreneurial start-ups fail, why do entrepreneurs start so many new firms? Why are (most) governments interested in promoting more start-ups?Thanks to worldwide urbanization, preindustrial cities no longer exist. T or F?
- Economist Friedrich Hayek argued that when knowledge is decentralized and disbursed among many people. a) the greater the share of knowledge the heads of firms and governments can and must know to be successful. b)the smaller the share of knowledge the heads of firms and governments can know to be successful. c) the greater the need for centralized, top-down planning within large firms and governments. d) the greater the need for firms and governements to avoid markets.Generally speaking, which type of government is associated with greater economic freedom? A) socialism B) theocracy C) totalitarianism D) democracy E) dictatorialWhat is the relationship between economic prosperity and democracy? a)The probability that a new democracy is stabile is higher in more prosperous countries b)Economies in democratic states grow more rapidly than economies in non-democracies c)The probably that a democracy is overthrown in a coup increases as prosperity goes up d)Authoritarian regimes are less dependent on economic prosperity for their survival than democracies