In general, countries with well-defined property rights, less government regulation, and lower taxes have
A. More corruption and crime.
B. Higher rates of economic growth for the entire population.
C. Higher per capita incomes.
D. Higher rates of investment.
Answer: B
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The effects of the national health care program on goods and services markets will
A) increase the marginal cost of the firm. B) increase the quantity produced of the firm. C) consumers will pay lower prices for many goods and services. D) decrease the quantity demanded for all goods and services.
An increase in the money supply and a decrease in real GDP at the same time is consistent with the equation of exchange if: a. velocity rises rapidly enough
b. velocity falls rapidly enough. c. the nominal GDP rises rapidly enough. d. the price level falls rapidly enough.
In sequential games, an especially important part of strategic behavior is to:
A. "think forward, work backward." B. "think forward, act backward." C. "think backward, work forward." D. "think backward, act forward."
Selection bias is a problem when trying to estimate the return to education in a standard human capital model. In this context, what does selection bias refer to?
A. Colleges select who they are willing to accept. B. The data sample is nonrandom. C. The wage-schooling locus does not have a constant slope. D. The wage-schooling locus is estimated to have a negative slope. E. Workers self-select education levels and jobs based on their abilities and preferences.