Which of the following is true?
What will be an ideal response?
When low-income countries adopt institutions and policies supportive of economic freedom, they are able to achieve high growth rates.
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Which of the following is an example of fiat money?
A) a cowry shell used as money on a South Pacific island B) a gold coin used as money in nineteenth century England C) a Federal Reserve Note used as money in the twenty-first century United States D) a pound of salt used as money in medieval France
To understand the public sector, we must understand not only how government allocates resources, but also the importance role that _____ play in the policy-making process
a. corporations b. families c. politics d. individuals
If total utility is falling, marginal utility is
a. positive b. negative c. positive, but declining d. either positive or negative e. zero
In the twentieth century, average real wages have risen substantially:
A. in industrial countries excluding the United States. B. in neither the United States nor other industrial countries. C. only in the United States. D. in industrial countries including the United States.