Since the Collapse of Communism at the End of the 1980s

question 11

Multiple Choice

Since the collapse of communism at the end of the 1980s, the erstwhile communist nations have transformed their economies by globalizing their markets. This involves _____.

• A) regulating markets
• B) privatizing state-owned enterprises
• C) decreasing competition
• D) reducing foreign investment

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Definitions:

GDP Price Index

A comprehensive inflation measure of all goods and services included in the gross domestic product.

Final Goods

Products that are completed and ready for sale and consumption, as opposed to intermediate goods used in the production of another product.

Consumer Price Index

An index measuring the change in the price level of a basket of consumer goods and services purchased by households.

Market Basket

A selected set of goods and services used to track changes in prices and measure inflation over time.