Which of the following policies are consistent with the goal of increasing productivity and growth in developing countries?
Ans:Protecting property rights and enforce contracts.
Providing tax breaks and patents for firms that pursue research and development in health and sciences.
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What is meant by consumer sovereignty?
What will be an ideal response?
Savings deposits and time deposits are not included in M1 because these are not held by the nonbanking public
a. True b. False Indicate whether the statement is true or false
A monopoly exists when there is only one producer in an industry, and no close substitutes for the product exist
a. True b. False Indicate whether the statement is true or false
If the price level is higher than expected, firms might raise their production in the short run if
a. the nominal wage they pay their employees was set based on the expected price level. b. prices are costly to adjust and they have set their price at some time in the past but are not ready to change it. c. they believe that the price of their product has risen relative to the price of other products, when in fact the rise in the price of their product reflects an increase in the general price level. d. All of the above are correct.