Consider two countries—A and B. Economy A is a command economy, while economy B is a market economy. Given this information, which of the following statements is likely to be true?
A) Both economies are likely to grow at the same rate.
B) Both economies are likely to stagnate without any increase in GDP.
C) Institutions in economy A are likely to be more inclusive than institutions in economy B.
D) Institutions in economy B are likely to be more inclusive than institutions in economy A.
C
You might also like to view...
Which of the following would economic freedom lead to?
a. A higher standard of living b. Better living conditions c. Longer life expectancy d. Better education e. All of these
A vertical aggregate supply curve increases the size of the multiplier effect
a. True b. False Indicate whether the statement is true or false
Frictional unemployment occurs when: a. a recent graduate is searching for his first job
b. a ski instructor is looking for a part-time job during summer. c. an engineer is looking for a new job after a recession. d. a stenographer is looking for a new job as his skills have become obsolete in the current labor market.
The economy of the United States would best be classified as:
a. closed economy b. socialism c. command economy d. A market system