A reason for placing special emphasis on capital accumulation in developing countries is the high:
A. Level of adult illiteracy
B. Productivity of workers in DVCs
C. Marginal benefits of capital goods
D. Level of import quotas and tariffs
C. Marginal benefits of capital goods
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A recent study has revealed that the unemployment rate in Eduland has been increasing over the last few years. What will be the impact of an increase in government spending in Eduland?
What will be an ideal response?
In the figure above, when the market is unregulated and in equilibrium, the deadweight loss is ________ thousand per month
A) $250 B) $125 C) $150 D) $50 E) zero
Public choice theory indicates that the behavior of people in government
a. differs from the behavior of people in the private sector because they are motivated by the public interest rather than their own personal self-interest. b. differs from the behavior of people in the private sector because public sector decision roles do not allow people to pursue their own self-interests. c. is the same as people in the private sector only if decisions are made by majority vote. d. is best understood by applying the same principles we use to predict the behavior of people in the private sector.
_________ believe that people make well-reasoned and self-interested decisions based upon available information.
Fill in the blank(s) with the appropriate word(s).