The economy of China is in transitioon. What does this mean?
a) investments are determines by state conrtol instead of by private decision
b) The conomy is moving from central planning toward a market-based system
c) Individual firms are in the process of being sold to the state
Ans: b) The conomy is moving from central planning toward a market-based system
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Refer to Figure 18-2. Which of the events below cause the shifts in the supply and demand curves in the market for dollars against the British pound shown in the graph above?
A) Interest rates rise in the United States. B) Real income falls in England. C) Real income rises in the United States. D) Interest rates rise in England.
Problems with collective decision-making and economic inefficiency in government are subjects that are studied in an area of economics called public:
A. Finance B. Choice C. Policy D. Interest