Command economies - Study guides, Class notes & Summaries

Types of Resources correct answers - Labor - Capital (Equipment) - Natural Resources - Entrepreneurial Ability Positive Economics correct answers - Assertion of fact - Law - What is Normative Economics correct answers - Opinion - Belief - What should be Law of Comparative Advantage correct answers If economies specialize and produce where they have the lowest opportunity cost, both economies can be better off. The Three Big Questions correct answers 1.) What to produce? (How m...

MACRO ECON FINAL EXAM. 1. In which of the following countries will the national government have the greatest influence with respect to the nation's economy? CUBA - CORRECT ANSWER 2. In a command economy, the __________ either makes most economic decisions itself or at least strongly influences how the decisions are made. - CORRECT ANSWER government 3. Because of their relatively small national economies, which of the following is most likely considered to be the most important facto...

CFA Level 1 Economics Exam || With Questions & Answers (100% Verified) CFA Level 1 Economics Exam || With Questions & Answers (100% Verified) Money Multiplier for a change in monetary base Formula - ANSWER - (1+c) / (d+c) c = currency as a % of deposits d = desired reserve ratio Change in Quantity of Money Formula - ANSWER - (Change in Quantity of Money) = (Change in Monetary Base) x (Money Multiplier) Equation of Exchange Formula - ANSWER - = (Money supply) x (Velocity) = GDP = (Pri...

AWS Knowledge Check Final Exam. Which of the following is a best practice for adding an additional layer of security when logging into the AWS Management Console? a. Root access permissions b. Multi-factor authentication (MFA) c. Secondary password d. Secondary user name - CORRECT ANSWER b. Multi-factor authentication (MFA) Which of the following tasks is the customer's responsibility when creating Amazon VPC security groups? a. Adding rules regarding inbound traffic to the securi...

Factors of production correct answers Labour, capital, entrepreneurs, natural resources & information Command economy correct answers Relies on centralized get to control all or most factors of production Market economy correct answers Individuals- producers and consumers- make decisions about production and allocation through supply and demand Two most basic types of command economies correct answers Communism & socialism Input market correct answers Firms buy resources from househo...

MNB3701 Assignment 1 (QUIZ COMPLETE ANSWERS) Semester 2 2024 ;100 % TRUSTED workings, Expert Solved, Explanations and Solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... Question 1 Answer saved Marked out of 1.00 Question 2 Answer saved Marked out of 1.00 QUIZ A corporate language refers to ________. a. foreign language used informally by tourists b. language people use for informal chats with the colleagues c. native language in the MNEs...

C211 WGU Exam Questions and Answers 100% Pass Globalization - Answer- The close integration of countries and peoples of the world Purchasing power parity (PPP) - Answer- A conversion that determines the equivalent amount of goods and services that different currencies can purchase Scenario planning - Answer- A technique to prepare and plan for multiple scenarios (either high or low risk) Risk management - Answer- The identification and assessment of risks and the preparation to minimize t...

In a Microeconomics course using the lecture slides from Chapter 1 of the textbook by McConnel and Brue, students are introduced to the foundational concepts and principles of microeconomic theory. Here's an overview of what is typically taught: Introduction to Microeconomics: Students are introduced to the field of microeconomics, which focuses on the economic behavior of individual consumers, firms, and industries. They learn about the significance of microeconomics in understanding how ma...

WGU D080 study for OA With Complete Solutions What is globalization? - Answer as international integration arising from the exchange of world views, products, ideas, and other aspects of culture. What is Culture Globalization? - Answer refers to the transmission of ideas, meanings, and values around the world in such a way that extends and intensifies social relations. What is Political Globalization? - Answer Refers to the emergence of an increasing number of global institutions such ...

LEGL 2700 ROESSING TEST 1 WITH COMPLETE SOLUTIONS Law - Correct ️️ made up of rules laid down by state and backed by enforcement -written social force -mean nothing w/o enforcement Rule of Law - Correct ️️ -laws are made generally and apply to everyone equally -necessary for strong and diverse economies -transparency in business Property - Correct ️️ ownership-allows you to exclude others without your permission Common Property - Correct ️️ resources like land that multip...