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.
Inflammation. Inflammation is characterized by the presence of swelling, redness, heat, and pain. Sw
Table 6.1 illustrates the main regime types and their differences. It breaks the regimes into four
Cortical EEG recorded during epileptic attacks. Notice that each trace is characterized by epileptic ...
Creating a Continental Economy
Links to the World Economy
Consider a two-period economy with no investment opportunities: first and second period output ...