3 weeks in

How many new businesses were created by entrepreneurs during the first 10 years of Vietnam's economic transition?

• 10,000

• 20,000

• 30,000

• 40,000

In which of the following categories does Switzerland not highly ranked in economic freedom?

• Private Property Rights

• Taxes

• Regulations

• Free Trade

Reorder the following

• Transitional Economy

• Market Economy

• Planned Economy

• Mixed Economy

In July 2020, the government of Iran banned the import of smartphones worth more than 300 euros. Just ​ (a)   ​ (b)   after the imposition of the import ban, following a sharp increase in the price of smartphones, the government has lifted the import ban. 

• 2
• days
• weeks
• years
• 3
• 10

During World War II, in response to government restrictions and supply chain disruptions black markets arose for the following goods in many places. Select all that apply.

• Meat

• Petrol

• Water

• Hair Conditioner

The Price Mechanism is more efficient at allocating resources than governments

• True

• False

• It Depends

Poland's ​ (a)   rate​ (b)   from 8% to ​ (c)   at the beginning of its transition from a planned economy.

• 16%
• unemployment
• 3%
• increased
• decreased
• 10%
• employment

Black Markets exist for..... (select all that apply)

• Organs

• Exotic Animals

• Medications

• Cheese

The best way to transition from a planned economy to a mixed economy is to

• create a stock market

• reduce regulations on firms

• increase opportunities for foreign trade and investment

• Reduce Taxes on firms and individuals

If you listen during class, complete homework assignments on time, and seek help from your teachers, you will do well on your economics tests.

• This is a positive statement

• This is a normative statement