The idea that governments can plan growth by setting industrial policies to encourage growth of certain industries:
A. is controversial.
B. is a proven method for economic growth.
C. has worked for the majority of countries that have tried it.
D. None of these is true.
Answer: A
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The absence of clear property rights
A) is common in many developing nations. B) encourages creative destruction. C) is caused by capital deepening. D) all of the above.
The above figures show the market for hamburger meat. Which figure shows the effect of a decrease in the price of a substitute like hot dogs?
A) Figure A B) Figure B C) Figure C D) Figure D
A portion of the balance of payments in which remaining outstanding claims are financed is known as the
a. current account. b. settlement account. c. capital account. d. balance of trade.
As a firm's output expands, the
A. ATC will reach a minimum before the AVC. B. AVC will reach a minimum before the ATC. C. ATC and AVC will reach minimums at the same output.