One of the most significant barriers to economic growth in the world's poorest nations is
A) political freedom. B) dead capital.
C) environmental issues. D) U.S. government interference.
B
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Holding the nominal interest rate constant, a ________ in the expected rate of inflation tends to ________ the real interest rate
A) rise; increase. B) fall, decrease. C) fall; increase. D) rise; improve.
In a competitive market the equilibrium price and quantity occur where:
A. consumers and suppliers bargain to a mutually acceptable price. B. the downsloping demand curve intersects the upsloping supply curve. C. quantity demanded exceeds quantity supplied or vice versa. D. the upsloping demand curve intersects the downsloping supply curve.
When the government eliminates artificial barriers to entry:
A. more firms will enter the market. B. prices to consumers will likely increase. C. competition in the market will decrease. D. All of these will occur.
Employers will bear the full burden of the payroll tax if labor supply is
A. upward sloping. B. perfectly elastic. C. perfectly inelastic. D. backward bending.