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.
d
Economics
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Other things equal, the stock of capital inherited by future generations is likely to be smaller when government spending:
A. is financed by taxation. B. increases during a period of recession, rather than prosperity. C. is financed by borrowing. D. is primarily for capital-type goods.
Economics
Figure 14.1 represents the market for used bikes. Suppose buyers are willing to pay $200 for a plum (high-quality) used bike and $50 for a lemon (low-quality) used bike. If buyers believe that 50% of used bikes are lemons (low quality), how many plums (high quality) will be supplied by sellers?
A. 8 B. 12 C. 16 D. 22
Economics