Which of the following is FALSE about the transition from communism to capitalism in Russia and China?
A) China chose a dual track strategy.
B) China's transition strategy was considered gradualist.
C) Russia's transition was aided by the large number of workers it had in heavy industry.
D) China's transition was aided by the large number of workers it had in rural agriculture.
C
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Most of the empirical research on long-run costs suggests that the long-run average cost curve for most firms has a very pronounced U-shape
Indicate whether the statement is true or false
If everyone could participate in the logrolling process at low cost, _____
a. then logrolling would allocate resources efficiently b. the political benefits to politicians would fall c. political exchange would no longer be important d. decision-making costs would be astronomical
Private companies will invest in medical research if
a. they will produce general knowledge. b. they will produce a specific product for which they may receive a patent. c. there is no government intervention in the market for medical products. d. others will benefit from their discoveries.
Developing infrastructure and ensuring that property rights will be protected can help a poor country grow more quickly according to de Soto's book The Other Path.
Answer the following statement true (T) or false (F)