In the former Soviet economy, the supreme planning board that transmitted economic decisions down to producing and consuming units was called the:
a. Soviet Ministry.
b. Polit Bureau.
c. Gosplan.
d. Soviet Central Committee for Economic Planning.
c
You might also like to view...
Resources include
A. land, labor and money. B. entrepreneurship and capital. C. capital and money. D. corporations and partnerships.
A consumer
a. is equally satisfied with any indifference curve. b. prefers indifference curves with positive slopes. c. prefers higher indifference curves to lower indifference curves. d. prefers indifference curves that are straight lines to indifference curves that are right angles.
In an oligopoly market, the Nash Equilibrium a. is a stable outcome despite providing a lower total profit level. b. leads to zero economic profit once the equilibrium is reached. c. results in a output level below that for a monopoly
d. always result in the maximum profit for all firms.
The "Buy American" policy is equivalent to a(n):
A. Tariff B. Quota C. Export subsidy D. Voluntary export restriction