The rapid growth rates of less developed countries (LDCs) after adopting institutions and policies more favorable to economic freedom and voluntary exchange is not surprising when one considers that
a. LDCs can emulate and borrow successful practices and technologies from other, more developed nations.
b. foreign aid payments to a less developed country are nearly always expanded rapidly when the country begins to increase its income level.
c. the governments of LDCs play a larger role in economic planning, when economic freedom rises.
d. economic theory indicates that improvements in institutions normally result from economic growth, rather than growth stemming from better institutions.
A
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Describe the changes in the variables that will cause supply for a product to increase, shifting the supply curve down and to the right
What will be an ideal response?
Refer to the information in Figure 16.5 below to answer the question(s) that follow.
?Figure 16.5Figure 16.5 shows the marginal benefits of emitting pollution for the only two chemical companies in an industry, Alpha Chemicals and Beta Chemicals. Before any tax on pollution emissions is imposed, each company views pollution as being free.Refer to Figure 16.5. Before any tax on pollution is imposed, Alpha Chemicals is emitting ________ tons of pollution.
A. 25 B. 50 C. 75 D. 100