Long-run economic growth requires all of the following except
A) government provision of secure property rights. B) political instability.
C) technological change. D) increases in capital per hour worked.
B
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Suppose the majority of the shares of British Airways stock were sold to a firm in the United States. Assuming all else remains constant, this will
A) decrease the balance of the U.S. financial account. B) create a capital inflow in the United States. C) decrease foreign direct investment in the United States. D) increase net portfolio investment in the United States. E) decrease the balance of the U.S. current account.
A trust game shown in Exhibit 13.13 is a sequential prisoners' dilemma. This means that it is likely that the outcome of the game is not socially efficient. What factors could cause this equilibrium to be different in real life?
What will be an ideal response?