In a planned economy, the concept of efficiency is
A. more important than in a market economy.
B. less important than in a market economy.
C. not important at all.
D. as important as in a market economy.
Answer: D
You might also like to view...
Which of the following is a major argument of trade pessimists?
(a) Increased productivity of developed country agriculture. (b) Increased efficiency in industrial use of raw materials. (c) Protectionism against labor-intensive manufactures. (d) All of the above.
Greater entrepreneurship in the economy will shift the aggregate:
a. supply curve rightward. b. supply curve leftward. c. demand curve rightward. d. demand curve leftward.
Hit-It produces 320 baseball bats per day using 2 workers who each work 8 hours per day. What is Hit-It's productivity?
a. 320 baseball bats b. 160 baseball bats per hour c. 20 baseball bats per hour d. None of the above is correct.
Explain what is meant by fractional reserve banking.
What will be an ideal response?