Economic growth in Cuba has been slow; what can best explain the slow growth?
A) Lack of economic resources
B) Lack of incentive mechanisms and economic freedom
C) Labor productivity is low.
D) A non-democratic form of government
E) Too much competition within the economy
B
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Refer to Table 7-4
a. Which country has an absolute advantage in the production of both light bulbs and flash drives? b. Which country has a comparative advantage in the production of light bulbs? c. Which country has a comparative advantage in the production of flash drives?
A difference between moral hazard and adverse selection is that
a. moral hazard deals with pre-contractually determined public information b. moral hazard deals with post-contractually determined private information c. adverse selection deals with pre-contractually determined private information d. adverse selection deals with post-contractually determined public information
Central banks can use _______________________ to reduce the quantity of money and loans in an economy.
a. closed market operations b. public market operations c. open market operations d. private market operations
A(n) ________ is a government policy that outlaws attempts to monopolize, or cartelize, markets in which competition is desirable
a. social regulation. b. economic regulation. c. antitrust policy. d. deregulation.