Of the following countries, which is the best example of a command economy?
A) the United States
B) Cuba
C) Japan
D) Brazil
B
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For consumers, taco chips and salsa are complements. If the price of salsa rises, what is the effect on the equilibrium price and quantity of taco chips?
A) The equilibrium price of taco chips falls, and the equilibrium quantity decreases. B) The equilibrium price of taco chips rises, and the equilibrium quantity decreases. C) There is no change in the equilibrium price of taco chips, and the equilibrium quantity increases. D) The equilibrium price of taco chips could rise, fall, or stay the same, and the equilibrium quantity increases. E) The equilibrium price of taco chips rises, and the equilibrium quantity increases.
The main policy advice given by the IMF to East Asian countries facing the financial crises of 1997/1998 was
A) raising their domestic interest rates to stabilize the collapsing currencies. B) using their monetary and fiscal policies alone. C) use capital controls. D) adopting a flexible exchange rate system. E) adopting a fixed exchange rate system.
If inflation and unemployment is rising at the same time, then this is most likely the result of a shift
a. downward in the aggregate demand schedule. b. upward in the aggregate demand schedule. c. downward in the aggregate supply schedule. d. upward in the aggregate supply schedule. e. none of the above can explain this
Because incentive contracts result in more risk placed on the part of agents
a. the average level of compensation typically falls b. the average level of compensation typically rises c. compensation is unaffected d. employers want employees to insure against wild compensation swings