Which of the following is a reason for the slow economic growth in former colonial nations?
a. Inadequate foreign aid
b. A communist system of government
c. Lack of skilled officials
d. Religious extremism
e. High entrepreneurial skills
c
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Table 7-4 ? 6 346 490 600 692 775 846 ? 5 316 448 548 632 705 775 ? 4 282 400 490 564 632 692 CAPITAL 3 245 346 423 490 548 600 ? 2 200 282 346 400 448 490 ? 1 141 200 245 282 316 346 ? 0 1 2 3 4 5 6 ? LABOR ? ? ? ? ? Table 7-4 shows a production relationship. Assuming the capital stock is fixed at three units and the cost per day of labor is $65, what is the most labor that it is efficient to hire if the product price is $1 per unit?
A. 2 B. 3 C. 4 D. 5
At the start of the Civil War, the population in the U.S. was about half that of the United Kingdom
Indicate whether the statement is true or false
There is "too much" steel production if the
A) social costs of steel production are significantly lower than the private costs. B) social benefits of steel production are declining. C) social costs of steel production are significantly higher than the private costs. D) social costs of steel production are declining.
Abstraction ignores many details in order to focus on the most important elements of a problem.
Answer the following statement true (T) or false (F)