Would one expect economic growth to be higher or lower in a country that had poorly defined property rights? Why?
What will be an ideal response?
Lower, because entrepreneurs are more likely to engage in entrepreneurial activity when property rights allow them to capture the rewards from these activities. Further, innovation is more likely when there are property rights on ideas.
Economics
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Economists will always reach the same conclusion in their positive analyses
Indicate whether the statement is true or false
Economics
Economists closely follow the current account balance because they believe it can provide information on the future movement of
A) interest rates. B) gold flows. C) exchange rates. D) special drawing rights.
Economics