Communal property rights and tradition, rather than market institutions, determine economic relationships in many developing countries.
Answer the following statement true (T) or false (F)
True
Many market institutions, such as property rights and contract law, do not exist or are largely nonexistent in many developing countries. Rather, these nations rely on cultural values, deferring to tradition and communal property rights.
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Command-and-control means of regulation achieve their results more slowly but more reliably
Indicate whether the statement is true or false
Horizontal integration allows firms to do all of the following except:
a. reduce administrative costs. b. create brand identity. c. take advantage of cost savings due to economies of scale. d. fully integrate with primary care clinics and acute care nursing facilities
Assume a DVC has a real per capita output of $1,000 as compared to $20,000 for an IAC. If both nations realize a 4 percent growth of their real per capita outputs, after one year the absolute real per capita output gap will:
A. remain unchanged at $19,000. B. increase by $760. C. decrease by $1,000. D. increase by $19,760.
Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B