The study of development economics is to understand
A. why most of the patents on record have been given to men rather than to women.
B. why some products are successful in the market as soon as they are developed, whereas others do not catch on for years.
C. why some countries are rich and others are poor.
D. the personality factors that lead people to become entrepreneurs.
Answer: C
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Vacation tours to Europe invariably package visits to disparate regions: cities, mountains, and the seaside. Bundling, a type of second degree price discrimination, is most profitable when:
a. the preference rankings of vacationers travelling together are negatively correlated. b. a preference for cities is always higher than preferences for mountain vistas. c. preference rankings of vacationers travelling together are positively correlated. d. preference for the seaside is always higher than preferences for city excursions. e. no one wants to take a European vacation package to cities, mountains, and the seaside.
Standardized goods and services sold in the market are likely to have high switch-over costs
Indicate whether the statement is true or false
The existence of a negative externality will result in:
A. a less than optimal level of production. B. elimination of deadweight loss. C. a greater than optimal level of production. D. prices that are artificially high.
An overvalued currency can be maintained:
A. even in the face of prolonged speculative attacks. B. only until international reserves are exhausted. C. as long as the government is willing to defend the currency. D. indefinitely.