Mikhail Gorbachev

question 18

Multiple Choice

Mikhail Gorbachev

• A)was the well-placed son of the head of the state oil-refining corporation.
• B)was picked for political leadership because of his record as a KGB data interpreter.
• C)had moved up rapidly since his appointment to the Party Central Committee in 1978.
• D)had spent many years in the gulag.
• E)had supported Mao Zedong against Nikita Khrushchev.

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Definitions:

Cardinal Utility Functions

Utilize numerical values to represent the level of satisfaction or utility that consumers derive from different bundles of goods and services.

Ordinal Utility Functions

A representation of a consumer's preference ranking for different bundles of goods, without specifying the exact level of satisfaction.

Basic Assumptions

Foundational beliefs or principles that are accepted as true without proof, forming the basis of further argument or reasoning.

Indifference Curve

A graph showing different combinations of two goods that provide equal satisfaction and utility to a consumer.