At the time it collapsed in 1991, the Soviet Union possessed all of the factors that promote increases in economic growth except:
A. a large stock of capital.
B. abundant natural resources.
C. a political and legal environment that promoted economic productivity.
D. a highly educated worker force.
Answer: C
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The key element in preserving a monopoly is keeping rivals out of the market.
Answer the following statement true (T) or false (F)
When Henry Ford doubled his worker's wages in 1914, he was implicitly recognizing
A. the wage-price flexibility concept. B. say's Law. C. the paradox of thrift. D. the real balance effect.
Which of the following government agencies enforces social regulation?
A) Environmental Protection Agency B) Federal Deposit Insurance Corporation C) Federal Reserve D) Federal Aviation Administration
The new monetary policy tool that the Fed began using in 2008 is
A. changing the interest rate paid on reserves. B. putting a tax on all financial transactions. C. imposing a surcharge on credit cards. D. borrowing from China.