In an hour, Andy can make either 5 pizzas or 12 pies and Chris can make either 6 pizzas or 18 pies. ________ advantage in making pizzas

Consider two countries: A and B. In country A there are well-defined private property rights and in country B there are no private property rights

If the institutions hypothesis holds: a) Which of the two countries is likely to grow faster? b) Is the slower growing economy permanently disadvantaged?

In a closed economy, a decrease in government spending while taxes remain the same will be accompanied by

A) a decrease in private investment and an increase in privates saving. B) an increase in private investment and a decrease in private savings. C) a decrease in private investment only. D) an increase in private savings only.