How Did Poland Make a Smoother Economic Transition Than Most

question 34

Multiple Choice

How did Poland make a smoother economic transition than most of the other eastern bloc countries?

• A) Lech Walęsa had set the fundamentals for a well-developed economy.
• B) The Catholic church urged cooperation of all forces in maintaining calmness.
• C) It proceeded quickly through privatization.
• D) It deregulated industries and companies in the transfer of power.
• E) Poland was never on a command economy.

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Definitions:

Capacity Utilization Rate

A measure of how well an economy or a firm is using its productive capacity to manufacture goods or services.

Unemployment Rate

A gauge of the share of individuals in the labor pool who are not employed but are actively seeking a job.

Economy Operated

Refers to the manner in which a nation’s economic systems and policies are managed and function to produce goods and services.

Percent Unemployment

The slice of the labor force that remains without work but is actively engaging in job search.