With Regard to Various Economic Systems,most Economists Agree That

question 14

Multiple Choice

With regard to various economic systems,most economists agree that

• A)command economies have been very successful in distributing income in socially just ways.
• B)government intervention in the economy is only justified in time of war.
• C)the mix of market and command principles that exists in Canada is the best.
• D)the optimal mix of market and command systems remains constant over time.
• E)most production and consumption decisions are more efficiently coordinated by markets than through central planning.

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Definitions:

Principal

The primary party to a transaction, such as a loan or investment, who has rights and obligations different from an agent or a trustee.

Agent

An individual or entity authorized to act on behalf of another person or organization in legal or business matters.

Social Anxiety

The fear of social situations that involve interaction with other people, mainly stemming from the worry of being judged or evaluated negatively by others.

Interviewer Pauses

Deliberate moments of silence by an interviewer during a conversation, used to encourage the interviewee to continue speaking or provide more detailed responses.