Production decisions are centralized in a(n)
A. command economy.
B. invisible-hand economy.
C. utopian economy.
D. laissez-faire economy.
Answer: A
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The relationship between consumer spending and disposable personal income is
A) a negative relationship. B) an inverse relationship. C) a direct relationship. D) independent.
The model of perfect competition is valuable for
A) prediction. B) comparison to other markets. C) Either A or B. D) None of the above.
In 1981, the Reagan administration employed a policy that included tax ____ while at the same time the Federal Reserve's strategy was to combat ____
a. cuts; unemployment b. cuts; inflation c. hikes; unemployment d. hikes; inflation
Suppose that the government decided to increase interest rates in order to encourage saving. Would this likely lead to an increase in investment and higher future economic growth rates? Explain.
What will be an ideal response?