Which of the Following Statements Is False

question 9

Multiple Choice

Which of the following statements is false?

• A)The price mechanism is most important under capitalism.
• B)The five-year plan was the main economic plan of the former Soviet Union.
• C)In most fascist economies,the means of production was left in private hands,with varying degrees of government interference.
• D)The main criticism of socialist countries is that they gave their citizens too many benefits.

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Definitions:

Budget Line

A diagram that maps out all potential pairings of two goods which are affordable within a set budget, with prices being stable.

Money Income

The total earnings received by an individual or household, including wages, salaries, benefits, and investments, usually measured before taxes.

Equilibrium Combinations

Sets of prices and quantities in a market where supply and demand are balanced, leading to no excess supply or demand.

Price

The amount of money that must be paid to obtain a good or service.