Reference no: EM133063059
What were the common short-term outcomes as socialist economies in Eastern Europe transitioned toward market capitalism after 1991?
A. Inflation and booming output
B. Labor shortages and rising wages
C. Inflation, unemployment, and declining output
D. Deflation and labor shortages
Which of the following characteristics is NOT a potential source of inefficiency in market capitalist economies?
A. Imperfect information
B. Externalities
C. Monopoly power
D. Franchise taxes
What is the Islamic concept of risk avoidance?
A. Qirad
B. Shari'a
C. Gharar
D. Riba
Which of the following is not a key belief under the Islamic economic system?
A. Interest payments should be subject to zakat taxation
B. Hard work and fair dealing are encouraged
C. Venture capital investments may be provided through mudarabah arrangements
D. Wealth may be accumulated and modestly enjoyed