According to Samuel Huntington, South Korea's economy experienced rapid economic growth because South Koreans valued thrift, investment, education, and discipline
On the other hand, Ghana's economy did not grow as fast because the country had different social values. This argument claims that:
A) geographical location is a fundamental cause of prosperity.
B) culture is a fundamental cause of prosperity.
C) institutions are a proximate cause of prosperity.
D) institutions are a fundamental cause of prosperity.
B
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Which of the following models do not believe that there exists a short run tradeoff between higher inflation and lower unemployment?
a. Keynesians b. monetarists c. new classical d. real business cycle e. none of the above
If compared against other criteria for evaluating the public interest, the social welfare function is most comparable to _____
a. utilitarianism b. the Pareto criteria c. the potential compensation criterion d. cost-benefit analysis