The structural change that accompanies the early stages of development can be characterized as
a. an increased percentage of output in manufacturing at the expense of agriculture and services
b. an increased percentage of output in services at the expense of agriculture and manufacturing
c. an increased percentage of output in agriculture at the expense of manufacturing and services
d. an increased percentage of output in agriculture and manufacturing at the expense of services
e. none of the above
A
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Which government reform or program did not occur in the 1930s?
A. the creation of the Federal Deposit Insurance Corporation (FDIC) B. the GI bill of rights C. the creation of the Securities Exchange Commission D. the Social Security System
Companies that enable investors to use their savings to buy financial securities are referred to as:
A) hedge fund companies. B) banks. C) private equity funds. D) asset management companies.
A tax wedge is ________
A) the difference between the tax rate on income and capital gains B) equal to the difference between what people earn before and after taxes are accounted for C) the size of the decrease in labor force participation when labor income is taxed D) the difference between the rate on Treasury securities and the income tax rate
A firm is a focal point for a set of contracts. Explain the problems that (1) agency relationships, (2) asymmetric information, and (3) adverse selection can introduce to building a successful contract between two people.
What will be an ideal response?