What is the opportunity cost of government work?
What will be an ideal response?
The output that could be produced with the time and talent of individuals allotted to bureaucracy is the opportunity cost of government work.
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Which of the following statements correctly highlights a difference between countries with extractive economic institutions and countries with inclusive economic institutions?
A) Countries with extractive economic institutions typically have better geographical conditions that countries with inclusive economic institutions. B) Countries with extractive economic institutions typically have worse geographical conditions that countries with inclusive economic institutions. C) Entry barriers for new businesses are likely to be lower in countries with extractive economic institutions than in countries with inclusive economic institutions. D) Entry barriers for new businesses are likely to be higher in countries with extractive economic institutions than in countries with inclusive economic institutions.
What is regulatory capture? Name an industry in which regulatory capture is present
Please provide the best answer for the statement.
Refer to the information provided in Table 2.1 below to answer the following question(s). Table 2.1?KrystalMarkWriting Poems812Writing TV Commercials24Refer to Table 2.1. To maximize total production,
A. Krystal should write poems and write TV commercials, but Mark should only write poems. B. Krystal should specialize in writing TV commercials, and Mark should specialize in writing poems. C. Mark should specialize in writing TV commercials, and Krystal should specialize in writing poems. D. Krystal and Mark should both split their time between writing poems and writing TV commercials.
A commercial bank has no excess reserves until a depositor places $2,000 in cash in the bank. The reserve ratio is 10%. The bank then lends $1,500 to a borrower. As a consequence of these transactions the bank's excess reserves are:
A. Not affected B. Increased by $200 C. Increased by $300 D. Increased by $500