According to Hernando De Soto, a Peruvian economist, it takes 168 steps in order to have a house registered in the Philippines. In Haiti, it takes 111 visits to officials to formalize a business. However, "if you make the right payments, this tedious process may disappear." The textbook calls this situation an example of:
A. corruption.
B. overpopulation.
C. political instability.
D. inappropriate education.
Answer: A
You might also like to view...
As inflation rates increase, money becomes less useful as a
A) store of value. B) double coincidence of wants. C) unit of account. D) medium of exchange.
Suppose an industry initially had been perfectly competitive and then became a monopoly. Which of the following would occur?
a. Consumer surplus would decrease. b. Consumer surplus would increase. c. Producer surplus would decrease. d. The deadweight loss would be eliminated.
The analysis of asymmetric information problems is called ________
A) adverse selection B) microeconomics C) cybernetics D) agency theory
The long-run aggregate supply curve is vertical at
A. potential output. B. the actual level of nominal output. C. 100% employment of the labor force. D. the actual level of real output.