In general, countries with well-defined property rights, less government regulation, and lower taxes have
A. Higher per capita incomes.
B. Higher rates of investment.
C. Higher rates of economic growth for the entire population.
D. More corruption and crime.
Answer: C
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In the above figure, a shift in the budget line in the direction indicated would occur as a result of
A) a decrease in money income. B) an increase in money income. C) a fall in the price of a movie. D) a rise in the price of movie.
In a small open economy, Sd = 200 + 500rw and Id = 300 - 200rw. If rw = 0.1, then net exports =
A) -50. B) -30. C) 30. D) 50.
The key assumption for the general multiple regression model is that all factors in the unobserved error term be correlated with the explanatory variables.
Answer the following statement true (T) or false (F)
Which one of the following would increase per-unit production cost and therefore shift the aggregate supply curve to the left?
A. A reduction in business taxes. B. Production bottlenecks occurring when producers near full plant capacity. C. An increase in the price of imported resources. D. Deregulation of industry.