According to Nobel Prize winner Douglass North, the most important factor in limiting economic growth in developing countries today is ________
A) the relatively low level of saving
B) the relatively high rate of inflation
C) the inability to develop effective low-cost contract enforcement
D) the inadequate state of the health care system
C
Economics
You might also like to view...
Which of the following is not included in investment?
A) the purchase of new equipment by firms B) nondurable goods C) the purchase of a new home D) none of the above
Economics
An economy may be operating at a point inside the production possibilities curve if: a. technological progress enables the economy to produce quantities of output otherwise unattainable. b. a substantial amount of labor is unemployed
c. a substantial amount of machinery is idle. d. either b. or c. occur.
Economics