In the former Soviet Union, nearly all resources were owned by
A. the government.
B. business firms.
C. individuals.
D. foreigners.
A. the government.
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Without an accepted medium of exchange
A) people would have to rely on gold or silver in order to exchange goods and services. B) goods and services would be exchanged by barter. C) prices are very difficult to determine. D) there would be no trade.
Which of the following is not a practice of Japanese physicians
a. Performing a unusually large number of surgeries. b. Seeing a large number of patients daily. c. Dispensing medicine to their patients. d. Accepting gifts of appreciation from their patients for special service. e. Discharging patients from the hospital after relative short average stays.
Extensive advertising will always lead to an increase in average total cost for the firm
a. True b. False Indicate whether the statement is true or false
Assume a two-country, two-commodity, two-input model where the following relationships hold:(K/L)U.S. > (K/L)ROW (K/L)automobiles > (K/L)shoes (K/L)U.S. is the capital-labor ratio in the United States, (K/L)ROW is the capital-labor ratio in the Rest of the World, (K/L)automobiles indicates the capital-labor ratio in the production of automobiles, and (K/L)shoes indicates the capital-labor ratio in the production of shoes.Assume further that technology and tastes are the same in the United States and the Rest of the World. The relationships shown in here indicate that the United States has a comparative advantage in the production of ________ while the Rest of the World has a comparative advantage in the production of
A. neither shoes nor automobiles; both goods B. shoes; automobiles C. automobiles; shoes D. both the goods; neither shoes nor automobiles