Which of the following statements is not one of the factors leading to the Russian economy transitioning toward capitalism?
A. allowing private ownership of factors of production
B. ability for individuals to earn profits
C. allowing supply and demand to set higher prices for basic consumer goods
D. restrictive regulations and licensing requirements for businesses
Answer: D
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
A likely consequence of debt default is: a. a decrease in the federal cost of borrowing
b. an increase in unemployment due to growing uncertainty. c. a sudden decline in the market interest rates. d. an increase in the credit flows in an economy. e. a sudden increase in the investment flows in the economy.
Nonexcludable goods tend to be undersupplied because:
A. the free rider problem persists. B. people do not pay the true value of the good. C. people rarely willingly pay for something they could get for free, regardless of how much they value it. D. All of these statements are true.
Other things the same, if foreign residents desired to purchase more U.S. wheat
a. the exchange rate and net exports would rise. b. the exchange rate would rise and net exports would be unchanged. c. the exchange rate would fall and net exports would be unchanged. d. the exchange rate would fall and net exports would rise.