De Soto's The Other Path encourages poor countries to use their development policies to do all of the following except
A. Reduce regulations.
B. Encourage entrepreneurship.
C. Encourage population growth.
D. Enforce laws to safeguard property.
Answer: C
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Minimum efficient scale is defined as the level of output at which
A) the firm's long-run average total cost starts falling. B) all economies of scale are exhausted. C) the maximum output is produced. D) diminishing returns affect average total cost.
All of the following are true regarding the Economic Order Quantity model except which one?
A) It determines the cost-minimizing quantity managers should order to keep in inventory. B) It assumes demand is known with certainty. C) It accounts for seasonal changes in demand. D) It assumes demand is spread evenly over a time period.
Most of the change from 1980 to 1987 in U.S. net capital outflow as a percent of GDP was due to a(n)
a. decrease in U.S. investment. b. decrease in U.S. national saving. c. increase in U.S. investment. d. increase in U.S. national saving.
In terms of economic growth, the key measure of the standard of living is
A) real GDP. B) nominal GDP. C) real GDP per capita. D) nominal GDP per capita.