Two goods are said to be complements when a fall in the price of one good:
A) leads to a fall in price of the other good.
B) doesn't affect the demand for the other good.
C) leads to a left shift in the demand for the other good.
D) leads to a right shift in the demand for the other good.
D
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As more economic development occurs
A) the population growth rate increases. B) technological progress slows. C) capital accumulation decreases. D) the population growth rate decreases.
When institutions do not protect private property rights, do not uphold contracts, interfere with the working of markets and instead erect significant barriers into businesses and occupations, they are referred to as:
A) transitive economic institutions. B) extractive economic institutions. C) inclusive economic institutions. D) exclusive economic institutions.