How did the Soviet model of communism compare to that of Karl Marx?
A. The models were identical.
B. The Soviet model was faithful to the Marxian model, but it had been modified slightly over the years.
C. What the Soviets were operating all these years was a classic capitalist model.
D. While there was public ownership of the means of production, there did not appear to be a very close resemblance to the Marxian model.
D. While there was public ownership of the means of production, there did not appear to be a very close resemblance to the Marxian model.
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Product variety and information for consumers are gains from
A) perfect competition. B) monopolistic competition. C) monopoly. D) oligopoly.
Explain the Ricardian equivalence theorem.
What will be an ideal response?
Between 2004 and 2005, the Federal Reserve raised interest rates 11 times. This is an example of
A. contractionary monetary policy. B. discretionary fiscal policy. C. expansionary monetary policy. D. nondiscretionary fiscal policy.
Futures contract prices are established
A) through an auction process in the "pit" on the exchange floor. B) through brokers. C) through an over-the-counter network of futures dealers. D) through specialists on the stock and bond exchanges.