Which statement best describes a command economy?
a. The production of goods and services is determined primarily by markets, but the allocation of goods and services is determined primarily by government
b. The production and allocation of goods and services is determined primarily through government
c. The production and allocation of goods and services is determined primarily through markets
d. The production of goods and services is determined primarily by government, but the allocation of goods and services is determined primarily by markets
b. The production and allocation of goods and services is determined primarily through government
You might also like to view...
In the figure above, an increase in the U.S. interest rate relative to that in Canada shifts the demand curve for U.S. dollars ________ and shifts the supply curve of U.S. dollars ________
A) leftward; leftward B) leftward; rightward C) rightward; leftward D) rightward; rightward
Refer to Figure 13-4. In the figure above, LRAS1 and SRAS1 denote LRAS and SRAS in year 1, while LRAS2 and SRAS2 denote LRAS and SRAS in year 2. Given the economy is at point A in year 1, what is the growth rate in potential GDP in year 2?
A) 8% B) 9.1% C) 10% D) 12%
A situation in which a private cost diverges from a social cost is
A) internal costs. B) an externality. C) an internality. D) a transactions cost.
If the deductible is $400 and the co-payment is 25%, on a covered expense of $800 the individual will pay ________, and their insurance company will pay ________.
A. $300; $500 B. $500; $500 C. $500; $100 D. $500; $300