Rents refer to
a. any form of nonproductive economic activity undertaken by the government.
b. charges by the government for the use of natural resources by foreign companies.
c. government earnings that are not channeled back into investment of policies that would benefit the public good.
d. government earnings of any type.
e. government earnings that come in the form of hard currency.
c
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Which of the following analogies demonstrates the problem countries encountered when they tried to follow modernization theory?
a. Billy starts a lawn-mowing business, but nobody on his block has a lawn. b. Billy starts a lawn-mowing business, but a couple of large landscaping companies took all the mowing jobs in his area years ago. c. Billy starts a lemonade stand, but the weather is cold and rainy, so nobody really is thirsty for lemonade right now. d. Billy opens a lemonade stand, but his recipe is not very good and his lemonade tastes bitter.
Which of the following has led to gains for top earners since 2001?
A. the "compression effect" described by economist Paul Krugman B. changes in the nation's job market C. a booming goods and services sector D. changes in tax policy E. All of these answers are correct.