Pillar(s) of the planned socialist economy:
a. State ownership
b. Planned resource allocation
c. Leading role of the party
d. All of the above
e. None of the above
D
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Capital and labor only very recently have been free to move across international borders
Indicate whether the statement is true or false
The firms in an oligopoly market structure agree to collude because:
a. it helps them to earn more profits. b. each firm wants to know the strategy of its rivals. c. each firm wants to charge a lower price for its product than its rivals. d. the firms want to maintain a healthy relationship with each other. e. it helps them to enjoy economies of scale.
Which of the following is the basic tenet of new classical economics?
a. A change in the fiscal policy affects the equilibrium level of real GDP but has no impact on the equilibrium price level. b. A government-induced shift in aggregate demand affects the real GDP only if they are expected by the economic agents. c. A change in aggregate demand affects the aggregate price level only if the aggregate supply curve is perfectly elastic. d. A change in monetary policy affects the equilibrium level of real GDP only if those changes are unexpected. e. An expected change in a monetary or fiscal policy leads to a proportional shift of the long run supply curve.
When a country imposes a per-unit (ad-valorem) tariff on an imported good or service then, the price that domestic consumers pay for the import falls
Indicate whether the statement is true or false