In a communist economy,
A. the state controls the means of production.
B. individuals decide what to produce, how to produce it and who gets it.
C. economic decisions are decentralized.
D. the market system is used to allocate resources.
A. the state controls the means of production.
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What will be an ideal response?
What are the total profits if four units are produced? a. 40
b. 70. c. -30. d. 20.
If a profit-maximizing oligopolist has a kinked demand curve, a downward shift in its marginal cost curve:
A. increases output or price but not both. B. may not affect output or price. C. reduces output but not price. D. reduces both output and price.
Suppose the money demand curve shifts rightward. Which of the following is true about the alternative policy options available with the Fed?
What will be an ideal response?