An economy with a government planning commission that provides explicit instructions for resource allocation is an example of
a. a command economy
b. a communal economy
c. a traditional economy
d. a market economy
e. market socialism
A
Economics
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The conclusion that international trade will lead to an increase in real earnings of a country's abundant resource is known as:
a. factorintensity reversal. b. the HeckscherOhlin model. c. Riparian comparative advantage. d. the StolperSamuelson theorem.
Economics
According to William Niskanen, bureaucrats seek to
a. maximize profits b. maximize tax revenues c. maximize budgets d. minimize variable costs e. minimize total costs
Economics