What results has the Republic of Korea experienced from its change in policies?
What will be an ideal response?
It has successfully industrialized. Its index of openness is many times greater and incomes have grown almost 6 percent per year over the period.
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Suppose consumers save 8 percent of their incomes. If the government collects 4 dollar in taxes from each taxpayer and invested it in infrastructure, total social investment will ________ per taxpayer
A) increase by 32 cents B) increase by $ 4.32 C) increase by $3.68 D) decrease by 64 cents
Adjudication, as discussed in the text, is a process for settling disagreements by supporting and enforcing which rights?
A) Rights based on an original act of mixing human labor with previously unowned resources B) The most ancient rights, whether or not they have been enforced C) The most widely and confidently accepted rights D) The rights of the majority
Voluntary exchange ________ economic efficiency because neither the buyer nor the seller would agree to a trade unless ________
A) decreases; they both benefit B) increases; they both benefit C) decreases; neither benefit D) increases; only one party benefits
A country cannot develop without a large natural resource base
a. True b. False Indicate whether the statement is true or false