Economies where production and distribution decisions are made by the government are called
A) command economies.
B) market economies.
C) mixed economies.
D) capitalist economies.
A
Economics
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One reason why the price elasticity of demand for cigarettes is large for young smokers is that
a. they have large discretionary incomes b. the price of cigarettes increased recently c. they are no longer permitted to smoke in public d. cigarette advertising on television has been banned e. the proportion of income a young smoker spends on cigarettes is usually quite large
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What do rational expectations theorists believe? What is their critics' point of view?
Economics