Describe the crisis in Russia starting from 1989. Explain why?
What will be an ideal response?
Students should emphasize lack of legal system, tax collection, corruption, organized crime, inflation, seigniorage financing, inability to reduce spending, reduction in oil prices, gold prices, world's recession etc. high and unsustainable interest rates, and continued support from the IMF for fear of collapse of the regime, including a possible nuclear threat if Russia decided to sell off its arsenal.
You might also like to view...
Keynes argued that
I. Capitalism did not always lead to full employment. II. Nominal prices were more important than relative prices. A) I only B) II only C) Both I and II D) Neither I nor II
Everything else held constant, an increase in the excess reserves ratio causes the M1 money multiplier to ________ and the money supply to ________
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
Suppose that under its collective bargaining agreement the XYZ Corp can hire nonunion workers, but these workers must join the union within 60 days. This agreement is an example of
A) an open shop. B) a closed shop. C) a company union. D) a union shop.
Which would best describe an oligopolized industry?
A. An industry dominated by two or three large firms B. An industry dominated by one large firm C. An industry with a very low concentration ratio D. An industry with many firms