In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability.
B. decreasing population growth.
C. increasing corruption.
D. reducing investment.
Answer: D
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According to public choice theory, policymakers
A) act in ways to bring about an equitable distribution of society's wealth. B) act in ways to maximize economic efficiency. C) place the interests of the public above their own self-interest. D) are likely to pursue their own self-interest, even if their self-interest conflicts with the public interest.
Which of the following will happen if the supply of loans increases?
A. The interest rate will rise, and the quantity of money borrowed will decline. B. The interest rate will fall, and the quantity of money borrowed will increase. C. The interest rate will fall, and the quantity of money borrowed will decline. D. The interest rate will rise, and the quantity of money borrowed will increase.
"If a natural monopoly is regulated using a marginal cost pricing rule, the firm makes zero economic profit." Is the previous statement correct or incorrect?
What will be an ideal response?
Suppose Bev's Bags makes two kinds of handbags-large and small. Bev rents an industrial space where she keeps the fabric, the industrial sewing machine, her measuring board and cutting shears, extra needles, thread and buttons, and labels. Which of the following would be considered a variable cost of this company?
A. The cutting shears B. The fabric C. The rent D. None of these would be considered a variable cost.