What is the Economic Freedom of the World index designed to measure? What will determine whether the rating of a country will be high or low on this index?

The Economic Freedom of the World index is design to measure the consistency of a nation's institutions and policies with personal choice, voluntary exchange through markets, freedom to enter and compete, and protection of people and their property from aggressors. In order to score highly on this index, a nation must protect property rights and enforce contracts even-handedly, provide access to a currency of stable value, rely primarily on markets to allocate goods and resources, keep tax rates low, and avoid regulations that restrict voluntary exchange and the freedom to compete in markets.

Economics

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Solving the principal-agent problem ensures that the firm is operating:

A. above the isoquant curve. B. below the production function. C. on the production function. D. above the production function.

Economics

Adjusting GDP downward for the impact industry has on the environment results in a number that is greatly disputed, but is often referred to as

A. "environment-neutral GDP."
B. "resource-adjusted GDP."
C. "green GDP."
D. "eco-output."

Economics