Answered: The Soviet Union collapsed because a.…

Principles of Economics, 7th Edition (MindTap Course List)

7th Edition

ISBN:9781285165875

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter32: A Macroeconomic Theory Of The Open Economy

Section: Chapter Questions

Problem 5QCMC

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31.) The Soviet Union collapsed because

a. Europe stopped trading with it

b. the United States defeated it in a war

c. the separate republics wanted independance

Expert Solution

Step 1

The Euro-zone is a trading block which have many countries joined together to create the trading block which makes the 28 country markets to form a single large market for the whole member countries. The economy will be using the coins and currencies based on the nature of market. There will be complete mobility of goods, services as well as the factors of production in the economy. The Soviet Union was also a union of the economies combined based on the communism in the economy.

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