Which of the following helps low-income countries grow rapidly relative to high-income countries?
a. Low-income countries are in a better position to save a larger share of their income.
b. Low-income countries can employ technologies and practices that have been successful in high-income countries.
c. Low-income countries generally have legal systems that protect property rights and enforce contracts in a more evenhanded manner.
d. Low-income countries generally have more favorable weather conditions.
b
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If the reserve ratio is 10 percent and reserves in the commercial banking system increase by $10,000, the maximum possible expansion of demand deposits is
A) $90,000. B) $1,000,000. C) $10,000. D) $100,000.
A game in which each player adopts its dominant strategy
A) will not lead to an equilibrium. B) can never result in a Nash equilibrium. C) could result in a Nash equilibrium. D) must be a cooperative game.