An important reason for the Industrial Revolution to have started in Britain is that:
A) there were high entry barriers in British markets.
B) Britain had a patent system.
C) entrepreneurship was discouraged in Britain.
D) Britain had extractive institutions.
B
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Two countries, Rhodia and Rubium, have identical production functions of the form:
Y = A × K0.25 × H0.75 Both countries have the same amount of capital stock and use the same technology. However, the total efficiency units of labor available in Rhodia is higher than that in Rubium. Which of the following is likely to be true in this case? A) The poverty rate in Rhodia is likely to be higher than that in Rubium. B) The gross domestic product of Rhodia is higher than that in Rubium. C) The gross domestic product of Rubium is higher than that in Rhodia. D) The Human Development Index of Rhodia is lower than that of Rubium.
A dividend is
a. a payment to the corporation's bondholders b. the same as the profit of the corporation c. a payment of a portion of the corporation's profits to the shareholders d. guaranteed if one has common stock e. the payment to each partner in a partnership form of business
The end of a recession is called the:
A. peak. B. boom. C. expansion. D. trough.
Fiscal policy involves discretionary changes in
A. the rate of growth of the money supply. B. interest rates. C. lump-sum taxes. D. exchange rates.