Which of the following is an obstacle to economic development?
A. immigration
B. openness to trade
C. foreign direct investment
D. poorly defined property rights
Answer: D
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All else equal, when oil prices increase, oil exploration processes like horizontal drilling become more advantageous for oil companies, and this will ________ proven reserves of oil and ________ the number of years it will take to deplete the stock
of oil. A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
How would you characterize the types of goods that are traded internationally?
What will be an ideal response?
The use of commodity money
a. has a high opportunity cost. b. does not provide an adequate unit of account. c. creates a mutual coincidence of wants problem. d. creates inflation. e. All of the above.
How much did the median wage for college graduates increase over the last two decades?
a. 10% b. 12% c. 14% d. 16%