Which statement is false?
A. Under Soviet communism, government planning was substituted for the price mechanism.
B. The entire Soviet economy was a Rube Goldberg contraption of subsidies, fixed prices, bureaucratic rules and regulations, special privilege, and outright corruption.
C. Had Mikhail Gorbachev not begun dismantling the communist bureaucracy, the Soviet system probably would have been able to continue carrying on business as usual for another century.
D. None of the statements are false.
C. Had Mikhail Gorbachev not begun dismantling the communist bureaucracy, the Soviet system probably would have been able to continue carrying on business as usual for another century.
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The aging of the labor force in the United States is likely to ________ the natural rate of unemployment; an increase in the efficiency of the labor market is likely to ________ the natural rate of unemployment.
A. increase; decrease B. decrease; decrease C. decrease; increase D. increase; increase
Assume the cross price elasticity of demand between peanut butter and grape jelly is negative
a. Does the cross price elasticity coefficient indicate that peanut butter and grape jelly are substitutes or complements? Why? b. Describe the effect associated with an increase in the price of peanut butter on the the demand for both peanut butter and grape jelly.
Refer to the data. If there were 1,000 identical firms in this industry and total or market demand is as shown below, equilibrium price will be:
Answer the question on the basis of the following cost data for a firm that is selling in a purely competitive market:
A. $32.
B. $42.
C. $36.
D. $20.
Suppose France's real GDP grew from $750 billion in 2010 to $821 billion in 2011. What was the growth rate of France's real GDP?
A) 10 percent B) 9.5 percent C) 9.1 percent D) 8.6 percent E) $71 billion