Which of the following best describes a command economy?
A) An economy that is characterized by barter trade of goods and services
B) An economy where strong controls are imposed by the ruling authority
C) An economy in which resources are allocated through the price mechanism.
D) An economy in which there are a few privately owned firms
Question 2
Refer to the scenario above. Which of the following is true, if the individual is optimizing in levels?
A) An optimizer will rent the hotel room for three days, if the net benefit of staying for the third day is negative.
B) An optimizer will rent the hotel room for three days, if the cost of staying for two days exceeds the cost of staying for three days.
C) An optimizer will rent the hotel room for three days, if the net benefit of staying for three days exceeds the net benefit of staying for two days.
D) An optimizer will rent the hotel for three days, if the total benefit of staying for three days exceeds the total benefits of staying for two days.
(A) Normal spongy bone. (B) Spongy bone with osteoporosis, which is characterized by a loss of bone
Cirrhosis. Cirrhosis is characterized by a chronic deterioration of the liver, replacing healthy cel
Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
This chart illustrates the four quadrants in which we can place the relationships between the state
Creating a Continental Economy
Links to the World Economy