All of the following are examples of institutions that promote real economic growth EXCEPT
A. strong law enforcement used to protect business interests.
B. patent laws that protect innovation.
C. complex rules associated with business licensing used to promote careful business growth.
D. an efficient judicial system used to enforce contracts.
Answer: C
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Being a very careful apartment renter (always locking the door, making sure the stove and iron are off when leaving, etc.) is an example of ________.
A) moral hazard B) certification C) a hidden characteristic D) screening
The production possibilities frontier has a tendency to bow outward from the origin
a. True b. False Indicate whether the statement is true or false
When two or more nations engage in an exchange of goods, this is known as
a. international trade. b. interstate commerce. c. free trade. d. intrastate commerce. e. outsourcing.
Holding other factors constant, if growing concerns about job security raise precautionary saving, then the real interest rate will ________ and the equilibrium quantity of national saving and investment will ________.
A. decrease; decrease B. increase; decrease C. increase; increase D. decrease; increase