Which of the following statements is true?
A) It is possible for an economy to change its economic institutions but not its political institutions.
B) Neither the political institutions not the economic institutions of a nation can be changed.
C) It is possible for an economy to change its political institutions but not its economic institutions.
D) It is possible for an economy to change both its political and economic institutions.
D
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Answer the following statements true (T) or false (F)
1. Economists widely fear that the world will run out of energy in the next century. 2. Recent studies indicate that as the price of a barrel of oil rises to $80, the use of biodiesel as an alternative fuel becomes economically viable. 3. As technologies improve, the costs of producing alternatives will likely fall, reducing the cost of replacing oil. 4. Optimal resource allocation involves considering current and future uses, benefits and costs. 5. In the extraction of a nonrenewable resource, increased current extraction will reduce the extraction firm's user costs.
For managers who have already met their goals, high powered sales goals
a. Give an incentive to spread out their sales into the year b. Give an incentive to accelerate costs or delay sales c. Give no incentive to accelerate sales or delay costs d. None of the above
A major difference between the transactions demand for money and the precautionary demand is that the
A. transactions demand means that people are foregoing interest but they are not foregoing interest in the precautionary demand. B. transactions demand involves expected expenditures while the precautionary demand involves unexpected expenditures. C. transactions demand is for emergencies while the precautionary demand is for every day expenditures. D. transactions demand leads to the purchase of assets while the precautionary demand does not.
Economies of scale arise when
A. all inputs increase at the same rate. B. all inputs increase by the same amount. C. one input increases and the others are held constant. D. one input increases and the others decrease.