Production planning without the market mechanism is very efficiently handled by central planners
a. True
b. False
Indicate whether the statement is true or false
False
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The expenditure multiplier measures the change in
A) autonomous spending that results from a change in equilibrium expenditure. B) equilibrium expenditure from a change in induced consumption. C) consumption expenditure for a given change in disposable income. D) equilibrium expenditure that results from a change in autonomous expenditure. E) the price level that results from a change in real GDP.
For most commonly used social welfare functions, an efficient allocation is
A) always preferred over any inefficient allocation. B) not possible. C) usually preferred. D) never preferred.
Deflation:
a. is often a result of increases in the money supply. b. is good for borrowers, but bad for lenders. c. is good for lenders, but bad for borrowers. d. cannot occur under a bimetallic standard.
The form of government debt that was created to allow more people to buy and hold government debt is the
a. Treasury bond b. Treasury bill c. Treasury note d. savings bond e. savings bill