Type the correct answer in the box. Spell all words correctly. What economic theory does the country follow?

A country in the Middle East has state-run enterprises that regulate and oversee all its oil-based operations and means of production. This

characterizes an)

economy

planned economic system or sociallism

Explanation:

Planned economic system is when the means of production are under the control of the state government.

Here, the government is the one in charge of the allocation of the resources in the economy coupled with the production if goods and its distribution.

due to the changes the federal reserve is making the unused reserves will impact the economy by them facing inflation. inflation is definfed as the increase in pricing of a good or service but the decline of the value of money used for purchasing those items. when the economy has a high inflation rate, they are subject to money loss and hurt on the economy.