Regarding the institutional requirements of efficient markets,
A)Western economic theory ignores the operation of efficient markets
B)market economists have an almost perfect understanding
C)market economists would never take the necessary institutions for granted
D)those involved in a transition from centrally planned economy must develop a deep appreciation
E)None of the answers is correct

Question

Quizplus · Accepted Answer

The statement suggests that those involved in a transition from a centrally planned economy must develop a deep appreciation of the institutional requirements of efficient markets. This indicates that the institutional requirements for efficient markets are not taken for granted and that awareness of these requirements is necessary for successful market transition. Therefore, option D is the best choice. The other options are incorrect - A is false, B is too extreme, C is contradicted by the statement, and E is a blanket statement that does not address the specific assertion in the question.

Regarding the Institutional Requirements of Efficient Markets