Which Statement Is False

question 256

Multiple Choice

Which statement is false?

• A)Throughout the 1980s,the Soviet Union devoted most of its capital and talent to its military establishment rather than to market reform.
• B)In the late 1970s,China began reforms,which eventually transformed it to a more market-oriented economy.
• C)Russia has been more successful than China in becoming a market-oriented economy.
• D)None of the above statements are false.

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Definitions:

Marginal Rate of Substitution

The rate at which a consumer is willing to give up one good in exchange for another good, while maintaining the same level of utility.

Good Y

A generic term used to denote a particular good or product in economic models.

Units

Refers to a measurement or quantity of something, often used in the context of production, sales, or inventory in various industries.

Utility Function

A function that reflects the satisfaction or utility a consumer derives from consuming goods or services.