With Regard to Various Economic Systems, Most Economists Agree That

question 44

Multiple Choice

With regard to various economic systems, most economists agree that

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

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Definitions:

Gross Private Investment

The total amount of private sector spending on the acquisition of capital goods and additions to inventories.

Increased

A situation or condition where there is a rise or growth in quantity, size, number, or some other measure.

Decreased

A reduction or decline in value, amount, quality, or intensity.

Capacity Utilization Rate

A measure of how fully an industry or economy is using its total productive capacity.