A major factor contributing to the slow growth rate of less-developed economies is
A) the lack of well-defined and enforceable property rights.
B) the lack of workers.
C) the lack of natural resources.
D) the high rate of illiteracy.
A
Economics
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Using the notation Pt to designate this period's price level and Pt-1 to designate last period's price level, the formula for measuring the inflation rate from last period to this period is
A) [(Pt - Pt - 1 ) / Pt] × 100. B) [(Pt -1 - Pt) / Pt - 1] × 100. C) [(Pt - Pt - 1 ) / Pt - 1] × 100. D) [(Pt -1 - Pt) / Pt] × 100.
Economics
The standard economists use to assess whether an activity should be undertaken is
a. majority vote b. the marginal benefit assessment. c. the gold standard d. economic efficiency.
Economics