Economic growth tends to be higher in a country that
A) has an open economy that encourages the rapid spread of technology.
B) does not grant patents to investors.
C) has a low saving rate.
D) has an undeveloped system of property rights.
A
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GDP tends to overstate economic well-being because it takes into account ________.
A. improvements in product quality over time B. expenditures undertaken to correct pollution C. nonmarket activities, such as the productive work of homemakers D. illegal activities of individuals and businesses
A reduction in the cost of cable TV subscriptions will ________ the ________ for televisions
A) decrease; supply B) decrease; demand C) increase; supply D) increase; demand E) None of the above is correct.
The demand curve faced by a dominant firm in an oligopoly model is the difference between the market demand and the supply that the fringe will produce at each price
Indicate whether the statement is true or false
Taxes, tradable pollution permits, and direct regulation of pollution are all market approaches to dealing with pollution.
Answer the following statement true (T) or false (F)