In a centrally-planned economy, economic activity is guided by ______

Fill in the blank(s) with correct word


the government

Economics

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In the figure above, if the market is unregulated, the output will be

A) zero. B) 50 units. C) 150 units. D) 250 units.

Economics

In the diagram below, the following would be a possible explanation for the difference between PPF1 and PPF2. (Assume the starting point is with all butter and no guns.)  

A. A dramatic shock to the resources needed to produce butter. B. A technological improvement in the production of butter and guns. C. A technological improvement in the production of butter. D. A technological improvement in the production of guns.

Economics

Why is the financial industry inherently more unstable than most other industries?

What will be an ideal response?

Economics

Long-run economic profits would most likely exist in which market structure?

A) monopoly, monopolistic competition, and oligopoly B) monopoly and oligopoly C) monopoly and monopolistic competition D) monopoly only

Economics