Under the old Soviet version of communism in the U.S.S.R., the questions of 'What?', 'How?', and 'For whom?' were answered by
A. a democratically elected congress called the Duma.
B. the law of supply and demand.
C. the decisions of hundreds of millions of individual consumers.
D. a government planning committee.
D. a government planning committee.
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
M2 ________
A) does not include currency B) does not include traveler's checks C) is a broader measure of money than M1 D) does not include checking deposits held at credit unions
______: 2 firms doing 2 activities. If combined produce more.
Fill in the blank(s) with the appropriate word(s).
To reduce the chance of investigations and orders to cease production, businesses should
A. adhere to government regulations. B. specialize. C. purchase the most up-to-date technology available. D. lobby members of Congress.