Which of the following statements is true?
A) The type of institutions in a nation is considered a proximate cause of prosperity.
B) Institutions determine the degree to which society accumulates factors of production and adopts new technology.
C) Societal religious beliefs and existing social norms are key proximate causes of economic prosperity.
D) Cultural and geographical factors that affect economic prosperity can be changed faster than the institutional factors that affect it.
B
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A one percent increase in the unemployment rate is statistically associated with ________ more deaths
A) 37 B) 370 C) 3,700 D) 37,000
Suppose you have three choices—go to a movie, read a book, or sleep. You choose to go to a movie. The opportunity cost of the movie is
A) the value of the book not read. B) the value of sleeping which you enjoy the least. C) the value of the concert that you didn't attend. D) the value of the activity that you would have selected if you hadn't gone to the movie.