The form of economic system in Hitler's Germany and Mussolini's Italy was called _________.
Fill in the blank(s) with the appropriate word(s).
Fascism
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The cross elasticity between two goods has been measured at ?1.2. How are the goods related? Explain. Give an example of goods for which this might be a reasonable measure of cross elasticity.
What will be an ideal response?
For a given aggregate supply curve, an increase in aggregate demand will: a. decrease the real interest rate
b. increase real GDP. c. decrease the price level. d. increase the real exchange rate. e. decrease real GDP.
If leakages are less than injections, ceteris paribus:
(a) National income will increase. (b) National income will decrease. (c) National income will stay in equilibrium. (d) None of the above.
The price elasticity of demand for a good tends
A) not to vary over time because people adjust to changed circumstances. B) to be greater over the long run than over a short period of time. C) to be less over the long run than over a short period of time. D) to rise when the demand increases. E) toward unity in the long run.