The economic system that has the benefit of cooperation among individuals but suffers from a lack of individual initiative that leads to greater production describes the:
a. market economy. b. command economy
c. soviet economy. d. traditional economy.
d
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If we wanted to consider all the money that had been "multiplied" in the economy, we would think about:
A. M2. B. M1. C. hard money. D. None of these.
There has been a decrease in investment. As a result, real GDP will ________ in the short run, and ________ in the long run
A) increase; decrease to its initial value B) decrease; decrease further C) decrease; increase to its initial level D) increase; increase further
Refer to the payoff matrix below. If Cruise the World uses a mixed strategy, what probability for offering Specials should the firm use to equate Cruise R Us' expected profits from offering a Special or not offering a special (No Special)?
Cruise R Us and Cruise the World compete in the cruise line industry. Each firm needs to determine if they are going to offer special cruise packages with special rates or not offer the specials. The above payoff matrix shows the firms' net economic profit for each set of strategies.
A) 0.75 B) 0.375 C) 0.33 D) 0.625
According to your text, which of the following countries has experienced the highest annual per capita Gross Domestic Product (GDP) growth rate since 1970?
A. United States B. Mexico C. China D. Germany