Which of the following about economic freedom is true?
a. In 1960, the per capita income levels of Hong Kong and Singapore were greater than those of the United States and Canada.
b. The economies of Hong Kong and Singapore have grown slowly in recent decades.
c. Economic freedom ratings indicate that both Hong Kong and Singapore rank among the world's freest economies.
d. Economic freedom ratings indicate that Nigeria and Venezuela rank among the world's freest economies.
Answer: C
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A person should consume more of something when its marginal
A. cost exceeds its marginal benefit. B. benefit is positive. C. benefit exceeds its marginal cost. D. cost equals its net marginal benefit.
How is dollarization different from monetary union?
What will be an ideal response?
Which of the following combinations is plausible for a nation's balance of payments? (All numbers in billions.)
A) current account = 10, capital account = 40, official reserve transaction account = 50 B) current account = 40, capital account = 20, official reserve transaction account = -50 C) current account = 50, capital account = -30, official reserve transaction account = 20 D) current account = 30, capital account = -20, official reserve transaction account = -10
The outputs of an oligopolistic industry
A) can be homogeneous or differentiated. B) must be at high levels so that price exceeds average total cost. C) always have excise taxes imposed on them. D) have no substitutes on the market.