Under the Soviet system of communism
A) managerial pay was determined by the extent to which managers could lower the per-unit costs of production.
B) the per-worker production function in the Soviet Union shifted up more rapidly than production functions in other countries.
C) competitive pressures in the Soviet Union allowed the country's technological progress to keep pace with the rest of the world.
D) technological progress was slow because managers had little incentive to develop new technologies.
D
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What will happen if an economy transforms from being extractive to being inclusive?
A) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will increase. B) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will decrease. C) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will increase. D) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will decrease.
Money demand is given by Md/P = 1000 + .2Y - 1000i. Given that P = 200, Y = 2000, and i = .10, velocity is equal to
A) 0.65. B) 0.75. C) 1.33. D) 1.54.
Which of the following statements is true?
A) Government purchases is the largest component of GDP. B) Net exports are equal to exports plus imports. C) U.S. imports refer to the physical quantity of foreign-produced goods that are purchased by residents of the United States. D) Government purchases includes the spending on goods and services by all levels of government (federal, state, and local). E) c and d
"Because apples and oranges are substitutes, an increase in the price of oranges will cause the demand for apples to increase. This initial shift in demand for apples results in a higher price for apples; this higher price will cause the demand curve for
apples to shift to the right." Which of the following correctly comments on this statement? A) The statement will be true if consumer tastes for apples and oranges do not change. B) The statement is false because a change in the price of apples would not change the demand for apples. C) The statement is false because oranges are inferior goods; apples are normal goods. D) The statement is false because one cannot assume that apples and oranges are substitutes for all consumers.