Why is the fear of expropriation an obstacle to economic growth?
a. Without research and development, no technological advances can be made.
b. Large government spending causes negative externalities.
c. Powerful special interest groups have too much control.
d. No foreign investment comes to the country, because of the lack of guarantees.
e. The fear of expropriation causes too many resources to be devoted to military spending which is a highly unproductive sector.
d
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The Community Charge was a poll tax to fund local government in the United Kingdom, instituted in 1989 by the government of Margaret Thatcher. It replaced the rates that were based on the national rental value of a house
It was a fixed tax per adult resident. Is this tax a proportional, progressive or regressive tax? Explain your answer.
If Ethan thinks the last dollar spent on bowling yields more satisfaction than the last dollar spent on hamburgers, and Ethan is a utility-maximizing consumer, he should
a. bowl less, so the marginal satisfaction from expenditures in this area will increase. b. spend more on hamburgers, so total satisfaction from that activity will increase. c. eliminate spending on hamburgers. d. bowl more and spend less on hamburgers.
In 2014, output per capita in the United States was approximately equal to
A) $15,500. B) $25,800. C) $43,800. D) $54,592.
Although price searchers can set their prices, the prices they can set are still affected by market conditions.
1. True or False: Although price searchers can set their prices, the prices they can set are still affected by market conditions.
2.Suppose firms in a competitive price-searcher market with low barriers to entry are earning an economic profit.
Firms will (exit /enter) this market until economic profits are (positive/ negative/zero).