Economies where some production decisions are made by the government and some are made by buyers and sellers are called
A) command economies.
B) market economies.
C) mixed economies.
D) capitalist economies.
C
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Excessive dependence on cheaper foreign imports can cause a(n) ________ in certain sectors of the economy
A) leftward shift in the domestic labor demand curve. B) upward movement along the domestic labor demand curve. C) rightward shift in the domestic labor demand curve. D) downward movement along the domestic labor demand curve.
If GDP = $300 billion and velocity = 1.5, then the money supply is
A) indeterminate. B) $200 billion. C) $300 billion. D) $450 billion.
A value of the absolute price elasticity of demand equal to 0.6 indicates that
A) a 6 percent increase in price leads to a 10 percent decrease in quantity demanded. B) a 10 percent increase in price leads to a 6 percent decrease in quantity demanded. C) a 0.6 percent increase in price leads to a 1 percent decrease in quantity demanded. D) a 1 percent increase in price leads to a 6 percent decrease in quantity demanded.
Since 1970, the federal government budget has never been in surplus
a. True b. False Indicate whether the statement is true or false