The Command Economy Under the Soviet System

question 33

Multiple Choice

The command economy under the Soviet system

• A) failed to reduce economic inequality.
• B) achieved rapid industrialization.
• C) involved state-directed economic planning, but not state controls on pricing.
• D) opened the country to foreign investment.
• E) all of these.

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Definitions:

Consumers' Burden

The part of the incidence of a tax borne by consumers, often reflected in higher prices or reduced consumption of taxed goods.

Efficiency Loss

The reduction in economic productivity that happens when the balance for a product or service is either not attained or unattainable.

Excise Tax

A tax imposed on the sale of specific goods or services, such as tobacco, alcohol, and gasoline, often with the aim of reducing their consumption.

Antigens

Substances that the immune system recognizes as foreign or dangerous, triggering an immune response.