A free<span> market economy is one in which the government </span>does<span> not set or control prices, supply, or demand. A </span>laissez-faire<span> economy is one in which transactions between different companies or people are not subject to tariffs, government subsidies, and enforced monopolies.
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Answer:
Macroeconomics
Explanation:
Macroeconomics studies the economy as a whole.
Microeconomics studies individuals and firms in the economy
Answer:
D. Lavinia will win because Lydia received a legal benefit
Explanation:
In this case, Lavinia is the promisee, since Lydia (the promisor) promised to give her $10,000 if she stopped smoking. Lavinia incurred in a legal detriment when she stopped smoking, simply because she has the smoke if she wants to. Personally, I consider smoking a bad habit, but anyone that smokes is free to do so as long as they comply with the law. A legal detriment is always paired with a legal benefit, even if the action doesn't actually result in a tangible benefit to Lydia.
Answer: Option A
Explanation: In simple words, real GDP refers to the macroeconomic measures under which the Economist adjust the GDP for the price change over time.
Under such a GDP, the economist tries to find out the volume of output increase rather than the value of the output increase by adjusting the produced commodities for the inflation.
Hence the correct option is A.