All of the following countries have been described as socialist economies, except
A. Norway.
B. France.
C. Sweden.
D. The United States.
D. The United States.
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The high growth rate in China in the last twenty years has similarities to the high growth rate of ________ during the 1950s and 1960s
A) the United States B) the Soviet Union C) Brazil D) Mexico
Assume that crackers and soup are complementary goods. The effect on the soup market of an increase in the price of crackers (other things being equal) would best be described as a(n):
a. decrease in the quantity of soup demanded. b. decrease in the demand for soup. c. increase in the quantity of soup demanded. d. increase in the demand for soup.
If expectations are rational,
A. a predictable change in inflation can make the expected inflation rate deviate from the actual rate. B. unemployment can exceed the full-employment rate even in the long run. C. the difference between the actual inflation rate and the expected inflation rate must be a purely random number. D. the inflation rate cannot be reduced without a period of high unemployment because the Phillips curve is downward sloping.
In Figure 24.2, total profit at the profit-maximizing rate of output is
A. ABDLK. B. CDLK. C. GHLK. D. CDHG.