Under communism, _____________ owns and operates most of the means of production and distribution.
Fill in the blank(s) with the appropriate word(s).
the government
You might also like to view...
A competitive market is in equilibrium. Then there is a decrease in demand and a decrease in supply. The equilibrium price ________, and the equilibrium quantity ________
A) rises; decreases B) perhaps changes but we can't say if it rises, falls, or stays the same; decreases C) falls; increases D) perhaps changes but we can't say if it rises, falls, or stays the same; increases E) rises; increases
Which of the following statements is most likely true?
a. In the long term, low or moderate levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates. b. In the short term, high levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates. c. In the long term, high levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates. d. In the short term, low or moderate levels of inflation may not pose an overwhelming difficulty for business planning because costs of doing business and sales revenues may rise at similar rates.
Inflation reduces economic efficiency because it does each of the following except:
A. distort incentives through interaction with the tax laws. B. change relative prices. C. obscure information transmitted by prices. D. induce people to minimize cash holdings.
A major distinction between government purchases and government transfer payments is that
A. transfer payments divert resources from private uses to public uses while government purchases do not. B. government purchases have to be approved by Congress while transfer payments do not. C. government purchases of goods and services have increased more rapidly during the past 20 years than have transfer payments. D. government purchases divert resources from private uses to public uses while transfer payments do not.