We know: Tax = Spending
Therefore: Tax/population = Spending/population
No assumption necessary.
I missed one also.
Question: Free markets typically secure more economic prosperity than government’s centralized planning because:
Your Answer: property rights and contracts are best enforced by the market system
Correct Answer: the price system utilizes more local knowledge of means and ends
Of course, property rights and contracts are best enforced by rule of law.
yitbos
I got those two wrong. Contracts make capitalism work was drilled in my head in law school so I reverted back to it. I read debt=deficit and knew I blundered as soon as I saw my answer. If I took my time I would have only missed the Plato question because I haven’t touched those books (outside Aquinas) since undergrad.