In his book The Other Path, de Soto suggests that countries will grow more quickly if bureaucratic barriers to free enterprise are reduced.
Answer the following statement true (T) or false (F)
True
De Soto concluded that countries could grow more quickly if governments encouraged rather than suppressed entrepreneurial resources. In his best-selling book, The Other Path, he urged poor countries to refocus their development policies. This 'other path' entails improving the business climate by reducing bureaucratic barriers to free enterprise, spreading private ownership, developing and enforcing legal safeguards for property, income, and wealth, and developing infrastructure that facilitates business activity.
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A shift away from expenditures on domestic goods and a shift toward expenditures on foreign goods when the domestic price level increases is known as
A) the interest rate effect. B) demand side inflation. C) the real-balance effect. D) the open economy effect.
Consumer surplus occurs whenever the consumer pays a price
a. equal to marginal revenue. b. less than the consumer is willing to pay. c. less than marginal cost. d. equal to or less than average total cost.
The above figure shows the market for rice in Japan. S2 represents the domestic supply curve, and S1 represents the world supply curve. If a $1 tariff is imposed on imported rice, the loss in social welfare is
A) b + c + d + e. B) a. C) i. D) a + c + d + e.
When economists speak of markets, they primarily mean: a. places where production of goods and services take place
b. those locations where stocks and bonds of corporations take place. c. mechanisms that coordinate actions of buyers and sellers. d. the trillions of dollars that change hands in the foreign exchange markets.