One of the Results of the Post-Soviet Economy Was the Rise

question 32

Multiple Choice

One of the results of the Post-Soviet economy was the rise of:

• A)effective banking
• B)border control
• C)business elites
• D)state assets
• E)streamlined bureaucracy

---

Definitions:

Engel Curve

A graphical representation that shows how household spending on a particular good or service varies with income.

Demand Curve

A graphical representation of the relationship between the price of a good and the quantity demanded, typically downward sloping.

Giffen Good

A type of inferior good for which demand increases as its price increases, contrary to the typical law of demand.

Slutsky Substitution Effect

A concept in economics that describes how a change in the price of a good affects consumption patterns, separating the effect into income and substitution effects.