Risk is a problem faced:
A. only in market systems.
B. only in command systems.
C. in both market systems and command systems.
D. in neither market systems nor command systems, only in laissez-faire capitalism.
Answer: C
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The quantity theory of money implies that:
A) inflation is equal to the gap between the growth rate of money supply and the current real interest rates. B) inflation is equal to the gap between the growth rate of money supply and the growth rate of nominal GDP. C) inflation is equal to the gap between the growth rate of money supply and the current nominal interest rates. D) inflation is equal to the gap between the growth rate of money supply and the growth rate of real GDP.
An insurance agent rents a building and has a three-year lease. An increase in the rent for the building increases the agent's
A) total cost and average variable cost. B) total variable cost and average variable cost. C) total fixed cost and total variable cost. D) total fixed cost and average fixed cost. E) total variable cost and total cost.