Which of the following is an obstacle to economic development?
A) poorly defined property rights
B) foreign direct investment
C) immigration
D) openness to trade
A
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The demand for a necessity generally is
A) very elastic. B) infinitely elastic. C) unaffected by income. D) inelastic. E) unit elastic.
Which of the following is true of welfare states?
A) Resources are not equally distributed in a welfare state. B) Resources are efficiently allocated in a welfare state. C) A welfare state entails a huge cost on the society. D) A welfare state usually has a regressive tax system.
A ________ is a provision that restricts or specifies certain activities that a borrower can engage in
A) residual claimant B) risk hedge C) restrictive barrier D) restrictive covenant
Flexible exchange rates are determined by
A) the government of the exporting country. B) the government of the importing country. C) the forces of supply and demand. D) the IMF.