Which nation listed below is successfully transitioning from a planned economy to a hybrid market economy?
a. People's Republic of China.
b. Japan.
c. United Kingdom.
d. United States.
a
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Which of the following is a transfer payment? I. Social Security II. Unemployment benefits
A) I only B) II only C) Both I and II D) Neither I nor II
Failure of market outcomes occurs when:
A. there are no market failures but the market is not achieving society's goals. B. there are market failures such as externalities. C. the market outcome is not Pareto optimal. D. the market outcome is not efficient.
A currency is overvalued if its exchange rate vis-à-vis a foreign currency is:
A) at the equilibrium exchange rate. B) not pegged. C) below the equilibrium exchange rate. D) above the equilibrium exchange rate.
How do firms in monopolistic competition compete?
What will be an ideal response?