A command economy eliminates markets.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Suppose the price of coffee falls. Other things constant, what will not happen?
A) People will consume more coffee. B) People will consume more cream. C) The demand for coffee will rise. D) The demand for cream will fall. E) More people will now consider drinking bottled water.
When using pollution charges to improve efficiency in a market with an external cost, regulators attempt to set the pollution charge equal to the
A) marginal social cost of production. B) marginal external cost of production. C) marginal private cost of production. D) marginal private benefit of consumption. E) marginal external benefit minus the marginal external cost.
Until the passage of the Airline Deregulation Act of 1978, the Civil Aeronautics Board controlled all of the following except
A. fares. B. assigned routes. C. profits. D. entry into the industry.
Compensating differences in wages, pay workers for:
A. differences in worker training and skills. B. differences in the nonmonetary characteristics of jobs. C. geographic immobility. D. discrimination in hiring and firing.