A planned economy would require decisions on the basis of
a. input-output tables
b. corporate profits
c. cost-benefit analysis
d. government decisions
e. all of the above
D
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As a result of the global financial crisis in 2008, _____
a. U.S. interest rates fell and the cost of servicing U.S. debt decreased b. U.S. citizens increased their purchase of foreign securities c. U.S. chronic deficits increased and debt service costs overwhelmed the budget d. debt issued by U.S. government entities was judged to be the safest in the world e. there was downgrading of the nation's credit risk by the chief credit-rating agency in 2011
When externalities are present in market activity and production occurs at P = MC,
a. the market generates an optimal distribution of resources b. the market does not generate an optimal distribution of resources c. a free-rider condition always raises price d. P = ATC as well e. the firm suffers economic losses