Which of the following is a problem inherent in centrally planned economies?
A) Production managers are more concerned with satisfying consumer wants than with satisfying government's orders.
B) There is too little production of low-cost, high-quality goods and services.
C) Exports tend to exceed imports.
D) Households and firms make poor decisions in choosing how resources are allocated.
B
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Which of the following is a fiscal policy that would increase aggregate demand in the Keynesian model?
a) a decrease in personal income taxes b) a decrease in government spending c) an increase in corporate income taxes d) a purchase of government bonds by the federal reserve e) a sale of government bonds by the federal reserve
A financial statement that sums up a firm's financial position on a particular day is
A) an equity report. B) a balance sheet. C) statement of cash flow. D) an income statement.