A classless society and economic system where all the factors of production are owned by workers and people share production according to their needs describes:
a. capitalism. b. communism.
c. the invisible hand. d. a mixed economy.
Question 2
Within the framework of the Keynesian Cross model, if an economy is operating at a real GDP less than full-employment real GDP:
a. a recessionary gap exists
b. an inflationary gap exists
c. aggregate expenditures will rise
d. the general level of prices will rise
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