According to Robert E. Hall and Charles Jones, successful economic performance requires
A) a favorable infrastructure of rules and institutions.
B) minimizing corruption and criminality.
C) the use of one of the eight major international languages.
D) A and B.
E) all of the above.
E
You might also like to view...
Which of the following statements is true?
a. The inclusion of intermediate goods and services into GDP calculations would underestimate our nation's production level. b. The expenditures approach sums the compensation of employees, rents, profits, net interest, and nonincome expenses for depreciation and indirect business taxes. c. Real GDP has been adjusted for changes in the general level of prices due to inflation. d. Real GDP equals nominal GDP multiplied by the GDP deflator.
Suppose a bank has checkable deposits of $100,000 and the required reserve ratio is 20 percent. If the bank currently has $100,000 in reserves, it could expand the money supply by as much as:
a. $100,000. b. $400,000. c. $0. d. $20,000. e. $80,000.
Competition in a market system denotes a condition where:
A. The diffusion of economic power limits its potential abuse B. Any given product can be purchased at a wide range of prices C. Contractual agreements among individual firms are restricted and avoided D. A few large sellers are constantly jostling for market share
Which of the following are considered ad valorem taxes?
A. taxes based on the amount of debt that the government must repay B. taxes assessed by charging a flat amount per unit purchased C. taxes assessed by charging a rate equal to a percentage of an item's price D. taxes based on the amount of spending the government will undertake