The highly centralized economies of North Korea and Cuba are ______ economies.

Three economic questions must be determined in all societies. What are they? a. How much will be produced? When will it be produced? How much will it cost?

b. What will the price of each good be? Who will produce each good? Who will consume each good? c. What is the opportunity cost of production? Does the society have a comparative advantage in production? Will consumers desire the goods being produced? d. What goods will be produced? How will goods be produced? Who will get the goods produced?

One benefit of a negative income tax is that it would increase work incentives

a. True b. False Indicate whether the statement is true or false