Pols ch 8 exam
Despite its tendency to increase production, a market economy fails in what regard?
Responding to the hardships of those who do not succeed
All major economic actors must support the goals and enhance the power of the political leadership in which state capitalist economy?
Russia
In a market economy, the distribution of factors and goods is based on the actions of
All consumers and producers
The GNI of the US includes the production of
American citizens working in London
Imagine you're the head manager of an industrial factory and you come to the realization that the quotas You have been given to produce commercial Airline parts is far lower than the actual domestic and international demand for them. You voice your concerns to your supervisors, but you find it impossible to altar the states five year plan for the economy. You are likely experiencing one of the major shortcomings of a blank economy
Command
The price you pay at the pump will likely come down when demand for gasoline
Is low in relation to its supply
In the economic concepts of factors of production, capital refers to
Non human productive input
Which of the following is an example of the political system having A significant impact on the economy
The US government sets new standards on fuel efficiencyFor auto manufacturers
Which statement best describes who controls the factors of production in a command economy
The state owns all significant factors
One flaw of both the GDP and GNI is
There are between country disparities in the exchange value of money
