Which of the following will reduce the effectiveness of centralized economic planning?
A) The central planners spending the funds of taxpayers will make poorer investment choices than investors spending their own money.
B) The central planners will be unable to obtain sufficient information for a sound economic plan in a world of dynamic change.
C) All of the above.
D) The choices of the central planners will be influenced by political, rather than economic, considerations.
C) All of the above.
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Increasing opportunity cost exists
A) only in theory but not in real life. B) in the real world. C) for a country but not for an individual. D) as long as there is high unemployment. E) inside the PPF but not on the PPF.
The above table gives the demand and supply schedules for cat food. If the price is $1
00 per pound of cat food, will there be a shortage, a surplus, or is this price the equilibrium price? If there is a shortage, how much is the shortage? If there is a surplus, how much is the surplus? If $3.00 is the equilibrium price, what is the equilibrium quantity?
Refer to the accompanying table below. The marginal cost of the 4th unit of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $10 B. $8 C. $6 D. $5
What is the motivation for individuals to hold money?
A. to reduce risk B. to have liquidity C. to facilitate transactions D. All of these