A singular important link between politics and economics in LDCs is that
a. democracies are more productive than nondemocracies
b. democracies must constantly make difficult budgetary choices
c. political instability is incompatible with long-term private investment
d. conservatives prefer larger military budgets
e. liberals prefer higher education expenditures
C
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The nominal wage is $40 an hour and the price level as measured by a price index is 2.00. If the nominal wage falls to $30 and the price index declines to 1.50, according to the worker misperception explanation of the upward-sloping SRAS curve, workers will initially perceive the
A) real wage as something greater than $20. B) real wage as something less than $20. C) real wage as $20. D) nominal wage as something more than $30. E) nominal wage as something less than $30.
All of the following are government capital except
A. schools. B. Treasury securities. C. mass-transit systems. D. roads.