According to the 1974 Constitution of the former Yugoslavia, nobody in Yugoslavia owns resources. Being a socialist country, the constitution claimed resources were owned by "society" as a whole
If the constitution were fully enforced, resources would tend to be A) used for the common good.
B) used without greed and materialistic interests.
C) free from the constraints of scarcity.
D) underpriced.
D
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A good example of central planning at work in the U.S. is:
A. McDonald's fries being the same everywhere. B. New York City's rent control program. C. car manufacturers establishing suggested retail prices. D. unions working with businesses to establish wages.
The production function graphs the relationship between
A) nominal GDP and real GDP. B) real GDP and the quantity of labor employed. C) real GDP and capital. D) nominal GDP and the quantity of labor employed. E) real GDP and the supply of labor.
Attempts to create a monopoly by having favorable laws passed are examples of rent seeking
Indicate whether the statement is true or false
Describe the effects of the reunification of eastern and western Germany in 1990 on both Germany and its neighboring European countries using the AA-DD framework
What will be an ideal response?