This topic contains a solution. Click here to go to the answer

Author Question: When nations attempt to move quickly from central planning to a market system, they face the ... (Read 181 times)

jCorn1234

  • Hero Member
  • *****
  • Posts: 545
When nations attempt to move quickly from central planning to a market system, they face the obstacle of high transaction costs in large part because
 
  A) market systems are unnatural and require careful design.
  B) people who have lived under socialism lack the basic skills a market system requires.
  C) people who have long lived under socialism are not sufficiently individualistic.
  D) the experience of socialism makes people distrustful of one another.
  E) they lack many of the institutions that develop over time in a market system.

Question 2

In the U.S. economy, which of the following statements is TRUE?
 
  A) More goods are produced than services.
  B) More services are produced than goods.
  C) Production is divided evenly between goods and services.
  D) The economy is too complex to determine the proportion of production that is devoted to producing services.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dudman123

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

E

Answer to Question 2

B




jCorn1234

  • Member
  • Posts: 545
Reply 2 on: Jun 29, 2018
:D TYSM


miss.ashley

  • Member
  • Posts: 371
Reply 3 on: Yesterday
Excellent

 

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Cutaneous mucormycosis is a rare fungal infection that has been fatal in at least 29% of cases, and in as many as 83% of cases, depending on the patient's health prior to infection. It has occurred often after natural disasters such as tornados, and early treatment is essential.

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

For a complete list of videos, visit our video library