The macroeconomic policy choices of developing countries like Zambia and Namibia:
A. are similar to those of developed countries, because their institutions are similar.
B. are similar to those of developed countries, even though their institutions differ.
C. differ from those of developed countries, even though their institutions are similar.
D. are different from those of developed countries, because their institutions are different.
Answer: D
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A perfectly competitive firm should shut down in the short-run if price falls below the minimum of
A) marginal cost. B) marginal revenue. C) average total cost. D) fixed costs. E) average variable costs.
The social interest theory of regulation is defined as the
A) use of regulations to maximize firms' profits. B) use of regulations to assure an efficient use of resources. C) removal of regulations on business activities. D) implementation and removal of regulations on the cable TV industry. E) use of rate of return regulation.
The information in the table shown:
This table shows the price-level adjustment as compared to the United States.
A. allows us to compare the standard of living in one country to another.
B. has been indexed to the United States.
C. shows that the typical good in Australia is more expensive than it is in the United States.
D. All of these statements are true.
One would expect people who work the night shift to have higher wages than their day-shift counterparts.
Answer the following statement true (T) or false (F)