In general, the relationship between democracy and economic growth as demonstrated by the high-growth Asian economies is that
A) democratic nations grow faster than undemocratic nations.
B) democratic nations grow slower than undemocratic nations.
C) there does not seem to be a relationship between democracy and economic growth.
D) democracies are much more variable in their rates of growth than undemocratic nations.
C
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A government wants to build a hydroelectric dam to reduce flooding in a region and provide electricity to its people
What type of investment is this? In order to make a decision about whether or not to make the investment, how should the government evaluate this project?
Which of the following statements is true?
A) Eliminating its tariffs and quotas unilaterally would not benefit the United States because this would remove the leverage it would have to persuade other countries to eliminate their trade restrictions. B) Economic efficiency would be increased if the United States eliminated all of its trade restrictions, but only if all other countries eliminated their trade restrictions too. C) The U. S. economy would gain from the elimination of its tariffs but not from the elimination of its quotas. D) The U.S. economy would gain from the elimination of tariffs and quotas even if other countries do not reduce their tariffs and quotas.
Explain why the long-run average cost is typically U shaped.
What will be an ideal response?
Suppose that, in the short run, a perfectly competitive firm earns a normal profit. Which of the following is incorrect?
a. MR = price b. MR = ATC c. AR ? Q = TR d. TR = TC e. P = AVC