In his book The Other Path, de Soto suggests that countries will grow more quickly if bureaucratic barriers to free enterprise are reduced.
Answer the following statement true (T) or false (F)
True
De Soto concluded that countries could grow more quickly if governments encouraged rather than suppressed entrepreneurial resources. In his best-selling book, The Other Path, he urged poor countries to refocus their development policies. This 'other path' entails improving the business climate by reducing bureaucratic barriers to free enterprise, spreading private ownership, developing and enforcing legal safeguards for property, income, and wealth, and developing infrastructure that facilitates business activity.
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Imposing a minimum wage that is above the equilibrium wage rate results in
A) higher job search costs. B) lower unemployment. C) the labor market becoming more efficient. D) equilibrium in the labor market.
Coal mining is a dangerous and dirty job. Suppose someone developed new machinery that made coal mining safer and cleaner; at the same time, suppose it made coal miners more productive. We would expect that the wages of coal miners would
a. rise. b. fall. c. stay exactly the same. d. rise, fall, or stay the same.