104. The economic institution that was characteristic of the former Soviet Union and also China was: A. Consumer sovereignty B. Central planning C. Decentralized ownership of property D. A system of markets to determine prices AACSB: Analytic Bloom's: Knowledge Learning Objective: 2-1 Level: Moderate Topic: Demise of the command systems 105. The problem in central planning has to do with: A. Determining the production goals for a factory B. Determining the proper geographic location of new firms C. Coordinating production so that bottlenecks do not develop D. Providing financial resources for increasing the real flows of products AACSB: Analytic Bloom's: Knowledge Learning Objective: 2-1 Level: Moderate Topic: Demise of the command systems 106. In the system of central planning: A. There is rapid decay of the infrastructure B. There is severe inflation in wholesale and retail prices C. Economic growth leads to widespread unemployment among workers The outputs of some industries become inputs for other industries D. AACSB: Analytic Bloom's: Knowledge Learning Objective: 2-1 Level: Difficult Topic: Demise of the command systems
104. The economic institution that was characteristic of the former Soviet Union and also China was: A. Consumer sovereignty B. Central planning C. Decentralized ownership of property D. A system of markets to determine prices AACSB: Analytic Bloom's: Knowledge Learning Objective: 2-1 Level: Moderate Topic: Demise of the command systems 105. The problem in central planning has to do with: A. Determining the production goals for a factory B. Determining the proper geographic location of new firms C. Coordinating production so that bottlenecks do not develop D. Providing financial resources for increasing the real flows of products AACSB: Analytic Bloom's: Knowledge Learning Objective: 2-1 Level: Moderate Topic: Demise of the command systems 106. In the system of central planning: A. There is rapid decay of the infrastructure B. There is severe inflation in wholesale and retail prices C. Economic growth leads to widespread unemployment among workers D. The outputs of some industries become inputs for other industries AACSB: Analytic Bloom's: Knowledge Learning Objective: 2-1 Level: Difficult Topic: Demise of the command systems
Test-Bank-Economics-18th-Edition-McConnell.docx