Which of the following statements is true?
A) The type of institutions in a nation is considered a proximate cause of prosperity.
B) Institutions determine the degree to which society accumulates factors of production and adopts new technology.
C) Societal religious beliefs and existing social norms are key proximate causes of economic prosperity.
D) Cultural and geographical factors that affect economic prosperity can be changed faster than the institutional factors that affect it.
B
You might also like to view...
Answer the next question based on the following payoff matrix for a duopoly in which the numbers indicate the profit in millions of dollars for each firm. Firm A? High PriceLow PriceFirm BHigh priceA = $250A = $325??B = $250B = $200?Low priceA = $200A = $175??B = $325B = $175If firm B adopts the high-price strategy, then firm A would adopt the
A. low-price strategy and earn $325. B. high-price strategy and earn $250. C. high-price strategy and earn $200. D. low-price strategy and earn $175.
In the one-input model, the marginal cost curve is U-shaped.
Answer the following statement true (T) or false (F)
What is interest rate parity and what happens when this condition doesn't hold?
What will be an ideal response?
Define the term "property rights." Explain why the lack of well-defined and enforceable property rights is detrimental to the smooth functioning of a market system
What will be an ideal response?