In the 1980s, ___________________ strictly adhered to the communist credo, "From each according to his ability, to each according to his needs".
A. China, but not the Soviet Union
B. The Soviet Union, but not China
C. Both China and the Soviet Union
D. Neither China nor the Soviet Union
B. The Soviet Union, but not China
Economics
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For an asset to be a "means of payment," the asset
A) is valuable and backed by gold. B) can be used to settle a debt. C) is valuable and backed by the government. D) requires a double coincidence of wants. E) must be used when bartering.
Economics
Equations for C, I, G, and NX are given below. If the equilibrium level of GDP is $32,000, what is the marginal propensity to consume?
C = 5,000 + (MPC)Y I = 1,500 G = 2,000 NX = -500 A) 0.67 B) 0.75 C) 0.8 D) 0.9
Economics