Which of the following is not an obstacle to development for many less-developed countries?
a. limited capital goods production
b. lack of infrastructure
c. lack of skilled workers
d. dependence on exports of natural resources
e. high savings rate
E
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A situation in which the price charged is less than society's opportunity cost would lead to
A) too little being produced. B) too much being produced. C) an efficient amount being produced. D) marginal cost pricing.
The amount of money that could have been made by renting a piece of land to be used for building an office building instead of using the land for employee parking is a(n):
a. implicit cost. b. accounting cost. c. explicit cost. d. pure economic cost.
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Which of the following statements about the FDIC is correct?I.The deposit insurance premiums charged by the FDIC to a member bank fully reflect the riskiness of that bank's assetsII.The manner in which the FDIC is set up helps protect depository institutions from the rigors of true market competition
A. I only B. II only C. Both I and II D. Neither I nor II