Which of the following statements is true of economic growth?
A) Countries with inclusive institutions are likely to grow faster than countries with extractive institutions.
B) In comparison to countries with extractive institutions, economic growth in countries with inclusive institutions is more likely to stagnate in the long run.
C) Countries with extractive institutions are likely to grow faster than countries with inclusive institutions.
D) Countries with extractive institutions are likely to grow at the same rate as countries with inclusive institution.
A
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Points to the right of the IS schedule indicate that
a. investment plus government spending will exceed saving plus taxes. b. the amount of money supplied exceeds the amount of money demanded. c. saving plus taxes will exceed investment plus government spending. d. the amount of money demanded exceeds the amount of money supplied.
The "law" of demand can be best described by
A) people will buy things that they enjoy. B) if incomes rise, people will buy more. C) a rise in price will cause shortages. D) a fall in price will increase quantity demanded.
In order for a firm to receive monopoly profits, there must be
A) homogeneous products. B) barriers to market entry. C) mutual interdependence among firms. D) free entry and exit to the market.
The central bank for the United States is
A. First National Bank of America. B. the Federal Reserve System. C. the U.S. Treasury. D. American Bank.