Econ 101 Practice Quz 1
Chamberlain College Of Nursing
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Exam (elaborations)
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According to our text, why is it so important that a government providing essential functions and 
sound economic rules exist in a capitalist economy? 
Because a government needs to enforce contracts, provide essential public goods and protect 
private properties. 
Let's consider the housing market. Which of the following contributes to an increase in the price of 
houses? 
Housing prices are expected to rise in the future. 
Which of the following is a characteristic of a country with a relativ...