Which of the following statements is true?
A) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a command economy which decelerated their economic growth.
B) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a market economy which accelerated their economic growth.
C) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a command economy which accelerated their economic growth.
D) After Czechoslovakia split into Czech Republic and Slovakia, the nations adopted a market economy which decelerated their economic growth.
B
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Which of the following describes a situation in which demand must be inelastic?
a. The price of pens rises by 10 cents, and quantity of pens demanded falls by 50. b. The price of pens rises by 10 cents, and total revenue rises. c. A 20 percent increase in the price of pens leads to a 20 percent decrease in the quantity of pens demanded. d. Total revenue does not change when the price of pens rises. e. Total revenue decreases when the price of pens rises.
The Federal Trade Commission
a. prevents mergers that substantially lessen competition. b. rules on the antitrust activities of labor unions. c. issues patents. d. polices deceptive advertising.
Many cities in the United States use rent controls designed to make housing affordable for their citizens. a . Explain how rent controls can lead to the conversion of existing rental housing units to office space or parking lots. b. Explain how rent controls can lead to the deterioration of existing rental housing units
This table shows individual demand schedules for a market.Price of GoodBarney's DemandBetty's Demand$0.002023$0.501818$1.001611$1.50148$2.00126$2.50105According to the table shown, what can be said of Betty and Barney's demand for this good?
A. Neither Betty's nor Barney's demand follows the law of demand. B. Barney's demand follows the law of demand, but Betty's does not. C. Betty's and Barney's demand both follow the law of demand. D. Betty's demand follows the law of demand, but Barney's does not.