Suppose a long stretch of beach with many possible public and private entrances is such that it is impossible to control access and, as a result, gets very crowded on summer days. Which recognized characteristic of goods holds
A. morality.
B. exclusivity.
C. rivalry.
D. lucidity.
Answer: C
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Describe several components of the institutional environment in the high-growth Asian economies that are critical to their success
What will be an ideal response?
Which of the following statements is true of a country that has a gold standard exchange rate system?
A. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to increase the price of gold. B. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to decrease the price of gold. C. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to reduce its money supply. D. A country running a deficit in its balance of payment would experience an outflow of gold which would force it to increase its money supply.
Which of the following is a major benefit of international lending?
A. It requires reducing restrictive international trade practices in the lending and the borrowing countries. B. It allows some lenders to shift their lending to foreign borrowers who are willing to pay higher interest rates on the loans.. C. It eliminates exchange rate risk in financial activities. D. It allows both small countries and large countries to apply similar levels of optimal taxes on the international loans.
Rent-seeking behavior is limited to those industries that lobby for government help in preserving monopoly powers.
Answer the following statement true (T) or false (F)