What is the coordination problem in command economics?
Please provide the best answer for the statement.
The coordination problem involves the difficulty of coordinating the many inter-dependent segments of the economy and the avoidance of the chain reaction that would result from a bottleneck in any one of the segments. This coordination problem became even more difficult as the economy grew larger and more complex, and more economic decisions had to be made in the production process. There were also inadequate measures of economic performance to determine the degree of success or failure of enterprises or to give clear signals to the economy.
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Refer to the table above. If imports falls to $45,000 in the next year, ________, all other variables remaining unchanged
A) gross domestic product will fall by $5,000 B) gross domestic product will fall by $ 10,000 C) gross domestic product will increase by $5,000 D) gross domestic product will increase by $ 10,000
Which of the following is an example of a public good?
A) a movie ticket B) a cup of coffee C) books at a public library D) a railroad sign
In ________ two major antitrust cases were brought before the Supreme Court involving Standard Oil and American Tobacco.
A. 1890 B. 1911 C. 1945 D. 2012
Define marginal cost. Is it different from the concept of willingness to accept?
What will be an ideal response?