Human capital shortages are not a barrier to economic growth in developing countries.
Answer the following statement true (T) or false (F)
False
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The above figure depicts the Edgeworth box for two individuals, Al and Bruce. If the endowment is at point a, and Bruce has no ability to bargain, the final allocation will be at point
A) a. B) b. C) c. D) d.
Which of the following explains why managers of government agencies have little incentive to achieve operational efficiency?
What will be an ideal response?
Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (utilities included) for $3,000 per month. Her total revenue for the year was $100,000. If Christine hadn't worked as a consultant, she would have worked at a real estate firm earning $40,000 a year.Christine's opportunity cost of working as a consultant last year was ________.
A. $36,000 B. $15,000 C. $51,000 D. $40,000
Answer the following statement(s) true (T) or false (F)
1. Economists have shown that economic growth results in political freedom. 2. On average, societies where saving some of one’s income is favored over spending it grow at a slower rate than other societies. 3. Investments by foreigners tend to reduce a country’s growth over the long run. 4. While some economists believe that improvements in infrastructure can increase productivity, other economists believe that increased productivity leads to better infrastructure. 5. A government can improve productivity by investing in research and development.