The recent growth records of Japan and Hong Kong during the last 50 years indicate that a nation can grow rapidly without:
A. securely defined property rights.
B. adopting modern technology.
C. significant capital formation.
D. abundant domestic natural resources.
Answer: D
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In which of the following would the richest tenth of the population be most likely to receive the highest percentage of the country's income?
A. Canada. B. Botswana. C. Sweden. D. Germany.
The Bretton Woods system:
A. committed the participating countries to a system of floating exchange rates. B. was set up as a result of the U.S. balance of payments crisis in the early 1970s. C. committed the participating countries to a system of fixed exchange rates. D. established the rules of the game of the gold standard.
A positive cross price elasticity of demand between two goods suggests that the goods are
A. not related. B. substitutes. C. complements. D. both of unitary elasticity.
On a two-dimensional graph, ________ illustrate the effects of additional variables
A) moving along a curve B) shifting curves C) eliminating a curve D) adding an additional curve