Examples of command economies are:
A. the United States and Japan.
B. Sweden and Norway.
C. Mexico and Brazil.
D. Cuba and North Korea.
Answer: D
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Adam Smith believed that markets coordinated the self-interests of consumers.
Answer the following statement true (T) or false (F)
A commercial bank is defined as
A) any institution that accepts deposits. B) a firm that is chartered to accept deposits and make loans. C) the institution that sets regulations for commercial activities. D) a firm that obtains funds by selling shares and then buys U.S. Treasury bills. E) any institution that makes loans.
When a perfectly competitive market is in its long-run equilibrium, the fact that the firms make zero economic profit will
A) encourage new firms to enter the market. B) cause existing firms to shut down. C) cause existing firms to leave the market. D) mean that the firms' owners earn a normal return.
"Developing countries should delay opening the capital account until the domestic financial system is strong enough to withstand the sometimes violent ebb and flow of world capital." Discuss
What will be an ideal response?