The government's role in a developing country is important during the country's development process for all of the following reasons except
A. many social projects are associated with the free-rider problem, which minimizes the rate of return to the private sector.
B. building infrastructure is a huge project that only the government can undertake.
C. the government is the only institution with a vested interest in a country's development.
D. building social overhead capital cannot successfully be taken on by the private sector.
Answer: C
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Espresso Yourself Coffee Shop hires workers in a competitive labor market to make coffee. The ingredients required to make each cup of coffee cost 50 cents. The coffee shop's hourly output of coffee varies with the number of workers hired, as shown in the table. Each cup of coffee sells for $2.00.Number ofworkersCoffee(cups/hour)00125245360470575 The most the coffee shop would be willing pay the third worker is ________ per hour.
A. $60.00 B. $45.00 C. $15.00 D. $22.50
Figure 10-1
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In Figure 10-1, what is the equilibrium level of real GDP and equilibrium price?
A. $6,000 billion real GDP and price level of 110 B. $5,000 billion real GDP and price level of 120 C. $5,000 billion real GDP and price level of 110 D. $7,500 billion real GDP and price level of 100
What is the difference between total utility and marginal utility?
Please provide the best answer for the statement.
Which of the following often involves positive external benefits?
A. water pollution B. drunken driving C. tobacco smoking D. inoculation programs