In order to achieve a high economic freedom rating, a country must:
a. provide secure protection of privately owned property and evenhanded enforcement of contracts.
b. refrain from creating barriers that limit domestic and international trade.
c. rely more fully on markets rather than governments to allocate goods and resources.
d. do all of these.
d
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The most likely cause of a hyperinflation is
A) central bank incompetence. B) the inability to finance government spending through taxation or borrowing. C) an acute shortage of natural resources. D) over-aggressive labor unions.
Human capital is increased when a firm makes investments that raise workers' productivity.
A. True B. False C. Uncertain
All the land in a California valley is owned by one person. The supply of land is fixed and is rented each year to farmers who bid for it in an open auction. Given the rents they must pay, the farmers barely earn subsistence. Sympathy for the poor farmers leads the state to bring in irrigation facilities to raise the productivity of the farms and raise the farmers’ income. The most likely outcome is
A. the farmers will be better off. B. the farmers and the landlord will share the new prosperity. C. only the landlord will be better off. D. no one will prosper.
Experimental data are sometimes called retrospective data.
Answer the following statement true (T) or false (F)