Reference no: EM131253358

The transition from government-determined to market-determined prices in Russia caused: A. inflation B. deflation C. price level stability. D. a surge of exports from Russia. Which of the following statements best characterizes the economic changes occurring in Russia during the late 1990s? A. increased use of market forces in place of central planning B. completion of the transition to capitalism C. increased use of five-year plans to allocate resources D. completion of the transition to pure communism Which of the following is NOT true of a market economy? A. In its pure form, it is also known as a laissez-faire economy. B. It always allows individual freedom and allocates resources efficiently. C. Buyers and sellers interactions answer the four basic economic questions of what is produced, how much is produced, how is it produced, and who gets it ? D. It relies upon millions of individual economic decisions to determine economic outcomes. Which of the following characteristics best describes the former Soviet Union economy? A. private ownership and the allocation of resources through free market prices B. public ownership of the means of production combined with central economic planning C. public ownership and the allocation of resources through free market prices D. private ownership of the means of production combined with central economic planning