The failure of communism in a large number of countries is at least partly explained by
a. the fact that those countries relied absolutely on the invisible hand.
b. the fact that those countries did little or nothing to restrict trade with other countries.
c. the lack of information, on the part of central planners in those countries, about tastes and preferences in their economies.
d. the lack of information, on the part of central planners in those countries, about how much authority the government had in affecting economic outcomes.
c
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Jane supports herself at college by working in a bookstore earning $300 a month, which she spends entirely every month. If she gets a salary increase of $100 a month, she spends $90 more dollars on consumption expenditure. Jane's MPC is equal to
A) 0.10. B) 0.90. C) 1.00. D) 0.50. E) $90.
Under the Bretton Woods system, the World Trade Organization (WTO) provided foreign currency loans to central banks and approved adjustments to the agreed upon fixed exchange rates
Indicate whether the statement is true or false