In a command economy, the __________ either makes most economic decisions itself or at least strongly influences how the decisions are made.
A. government
B. market
C. firm
D. business sector
A. government
Economics
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The figure above shows Diane's demand curve for soda. The price of a soda is $1.00. Diane's consumer surplus from all 15 sodas is
A) $15.00. B) $22.50. C) $11.25. D) $8.00. E) $1.50.
Economics
If Year 1 is the base year, the growth of real GDP is approximately
A) 100%. B) 109.5%. C) 137.5%. D) 148%.
Economics
"Market power" refers to a firm's ability to:
A. influence the price its competitors charge. B. raise its price without losing all of its sales. C. undercut its competitors' prices. D. force consumers to buy high-priced products.
Economics
Personal income taxes and transfer payments are examples of automatic stabilizers.
a. true b. false
Economics