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Introduction to Economics💰

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Consider the following metaphor:

If the society's pie were to be sliced equitably, we would first have to place the pie at the centre. But the centralization of the pie will itself would itself induce corruption. It would divert the resources from their most productive use to the acquisition of a greater slice of the pie.

In this description, the "center" refers to .

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Suppose the government needs to raise funds for more spending projects. They can do so by raising taxes.

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Trying to distribute national income equally between the citizens is primarily a question of:

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The government's way of borrowing is:

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In a socialist economic system:

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"There is need for have quotas for how much each person receives of the economic pie."

The above statement would most likely be made by a proponent of:

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Protection of private property is an important service provided by the state because:

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Trying to maximize the size of real GDP is primarily a question of:

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