Which of the following statements is true?
A) It is possible for an economy to change both its political and economic institutions.
B) Neither the political institutions nor the economic institutions of a nation can be changed.
C) It is possible for an economy to change its political institutions but not its economic institutions.
D) It is possible for an economy to change its economic institutions but not its political institutions.

Question

Quizplus · Accepted Answer

It is possible for an economy to change both its political and economic institutions. In fact, many economies have undergone significant institutional changes throughout history, such as China's shift toward a market-based economy in the late 20th century and the transition of many Eastern European countries from centrally planned economies to market economies after the fall of the Soviet Union.

Which of the Following Statements Is True