Central planning is a key characteristic of which economic system?
A) free market
B) price system
C) command and control
D) mixed economic system
Answer: C
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The largest share of the typical American family budget goes to:
a. goods b. health care c. housing d. transportation
Which of the following countries began liberal economic reforms during the 1980s and now have significantly more economic freedom than during the mid-1980s?
a. Ireland and New Zealand b. France and Italy c. Sierra Leone and Haiti d. United States and Germany
Which is the most accurate statement about the Federal Trade Commission?
A. It has never stopped a merger from taking place. B. It is the most powerful anti-trust agency in the federal government. C. Its job is limited to preventing false and deceptive advertising. D. It has a role in anti-trust enforcement.
Which of the following is a way banks reduce risk?
a) Screening firms. b) Evaluating firms. c) Monitoring firms. d) Pooling money into portfolios.