Which of the following is a barrier to economic growth in many developing nations?
A. the lack of natural resources
B. the lack of economic freedom
C. the low level of restrictions in the labor market
D. the shortage of labor
Answer: B
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The figure above shows the marginal social cost of generating electricity and the marginal private cost. For 4 billion kilowatts, what is the marginal external cost?
A) $0.12 B) $0.08 C) $0.04 D) $0.00 E) $0.20
According to Edward Kane, because the banking industry is one of the most ________ industries in America, it is an industry in which ________ is especially likely to occur
A) competitive; loophole mining B) competitive; innovation C) regulated; loophole mining D) regulated; innovation
Fiscal policy takes _____ to implement than monetary policy because ______.
a. a longer time; the FOMC meets much more often than Congress b. a longer time; Congress must debate and agree on the action c. a shorter time; Congress meets much more often than the FOMC d. a shorter time; the FOMC cannot act without congressional approval
In the above figure, the opportunity cost of moving from point A to point C is
A. 50 guitars. B. 50 ukuleles. C. 0 guitars. D. 25 guitars.