Which of the following statements is false?
A. The price mechanism is most important under capitalism.
B. The five-year plan was the main economic plan of the former Soviet Union.
C. In most fascist economies, the means of production was left in private hands, with varying degrees of government interference.
D. The main criticism of socialist countries is that they gave their citizens too many benefits.
D. The main criticism of socialist countries is that they gave their citizens too many benefits.
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If a firm makes negative short run profits, it will exit the industry in the long run.
Answer the following statement true (T) or false (F)
In the ISLM framework, a declining price level causes
A) interest rates to rise. B) income to fall. C) saving to rise. D) the LM curve to shift to the right.
If you get a job and are never required to join the union, this is known as a(n)
A) closed shop. B) open shop. C) agency shop. D) union shop.
One of the key factors in raising people in low-income countries out of the worst kind of poverty is whether they can
a. receive unemployment compensation. b. attend college or vocational school. c. make a connection to a somewhat regular wage-paying job. d. be protected by labor laws and unions.