In the former Soviet Union most goods and services were produced by ____________; in the United States most goods and services are produced by _____________.
A. the government; private enterprise
B. the government; the government
C. private enterprise; the government
D. private enterprise; private enterprise
A. the government; private enterprise
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Compare and contrast the relative price elasticities of Marlboro brand cigarettes with cigarettes in general. Why is there a difference?
What will be an ideal response?
The oligopolistic situation in which a company's objective is to maximize revenue subject to a minimum profit requirement is usually referred to as
A) the aggregate model. B) the Baumol model. C) the aggressive model. D) the Marshall model.
Which of the following models emphasizes the importance of credible, predictable government policies for maintaining full employment with low inflation?
a. The monetarist model. b. The Keynesian model. c. The supply-side model. d. The rational expectations model.
During 1929-1933, monetary policy was
a. highly expansionary and this led to an increase in the general level of prices. b. characterized by steady monetary growth, which resulted in price stability. c. characterized by a sharp reduction in the supply of money, which led to downward pressure on prices and a decline in output. d. highly expansionary and this led to a reduction in the general level of prices.