Explain why the LDCs are unable to invest much in capital goods and human capital.
What will be an ideal response?
The demands of the growing populations in these countries force them to devote most of their resources to the production of consumption goods, and not enough to the production of capital goods or human capital.
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Property rights
A) are essentially arbitrary. Therefore, rearranging them will have few effects. B) do not really exist except in a capitalist society. C) are a major part of the "rules of the game", which govern economic activity. D) prevent people from cooperating in the most effective way. E) are different from human rights.
The Second Circuit and Eleventh Circuit Courts of Appeal affirmed dismissal of securities fraud claims because the plaintiffs did not adequately plead scienter under the standard imposed by the Private Securities Litigation Reform Act of 1995. Scienter is defined as which of the following?
(a) The standard of reasonableness required of a prudent person in the management of his affairs (b) An untrue statement of a material fact (c) The intent to deceive, manipulate, or defraud (d) The failure to maintain due diligence during the issuance of new securities known as an IPO
The lower the price, the lower the consumer surplus, all else equal
a. True b. False Indicate whether the statement is true or false
Which equation is used by a manager when considering total cost?
A. total costs (TC) = average total costs (ATC) B. total costs (TC) = consumption (C) + investment (I) + government (G) C. total costs (TC) = total fixed costs (TFC) + total variable costs (TVC) D. total costs (TC) = average fixed costs (AFC) + number of workers