"The Soviet economy is proof that, contrary to what many skeptics had earlier believed, a socialist command economy can function and even thrive.". This statement is from:
a. Hayek
b. Mises
c. Friedman
d. Samuelson
e. None of the above
D
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
As the baby boomers in America grow old, the demand for health-care workers increases. This would be an example of which determinant of labor demand?
A. A decrease in the price of another resource. B. An increase in product demand. C. An increase in labor productivity. D. An increase in the price of another resource.
The Federal Open Market Committee engages in contractionary monetary policy by
A. buying bonds. B. selling bonds. C. lowering interest rates. D. creating excess reserves.
Corporate governance involves the way in which
A) the government nationalizes corporations. B) the government licenses corporations. C) a corporation is subject to government regulations. D) a corporation is structured.