Indians and Indian-Americans have played a pivotal role in powering Silicon Valley's digital revolution. The emigration of talented people from countries like India to countries like the United States is often called:
A. credentialism.
B. the brain drain.
C. Malthusianism.
D. outsourcing.
Answer: B
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Economic theory would anticipate that labor market distortions would reduce employment. Why isn't there greater evidence of this in developing countries?
What will be an ideal response?
In a voluntary contribution game:
A. each member of a group makes a contribution to a common pool which benefits only the contributor, and this leads to alignment of individual and collective interests. B. each member of a group makes a contribution to a common pool which benefits everyone, and this leads to alignment of individual and collective interests. C. each member of a group makes a contribution to a common pool which benefits only the contributor, and this leads to a conflict between individual and collective interests. D. each member of a group makes a contribution to a common pool which benefits everyone, and this leads to a conflict between individual and collective interests.
Which of the following is true of private ownership?
a. Private ownership links responsibility with the right of control. b. Private owners have little incentive to conserve natural resources for the future. c. Private owners have little incentive to develop and use their assets in ways others value. d. Private owners can do anything they want with the things they own regardless of the damage it does to the property of others.
The rationale for the existence of central banks is mainly that:
A. financial markets lack transparency. B. financial systems are prone to periods of extreme volatility. C. they are needed for the supervision of banks. D. financial intermediation cannot occur without a central bank.