The price mechanism is least important under ________. communism
Explanation:
Explanation:
Under communism, the government sets
the prices of nearly all goods and services.
The five-year plan had been the main economic plan of
________. the Soviet Union
Explanation:
Explanation:
The five-year plan had been the main
economic plan of the Soviet Union. See the section "Communism."
The strongest criticism of Norway's economic system has been
that ________. its taxes are too high
Explanation:
Norwegian citizens are among the
highest taxed citizens of any nation.
The main reason the American farmer can produce more than
the farmer in China is that he or she ________. has more capital
Explanation:
Explanation:
American farmers have long been
among the most productive in the world. This is mainly because they have a
great deal of capital working for them – in the form of tractors, harvesters,
and other equipment.
Capital comes from ________. savings
Explanation:
Individuals need to save in order to
raise capital. A nation needs to save in order to accumulate capital.
An individual can build up his or her capital
________. by both cutting back on
consumption and working longer hours
Explanation:
Explanation:
An individual can raise capital by
cutting back on consumption and/or by working longer hours. If you wanted to
raise capital to start a business, you might cut back on your consumption
spending and/or take on a second job or work more overtime.
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