A researcher claims that the standards of law and order are the basis of the economic prosperity of a certain country. This argument is based on the:
A) geography hypothesis. B) location hypothesis.
C) culture hypothesis. D) institutions hypothesis.
D
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The right of people to receive the value of their output as determined by the market _____
a. leads to people pursuing their own selfish ends, with little regard for others b. leads individuals to produce only goods that will appeal to the masses c. provides strong incentives to produce goods that will make themselves happy d. provides incentive to produce goods that others find valuable
Which of the following statements regarding the use of gold as money is false?
A) The money supply would be easy to control because of the predictability of new gold discoveries. B) It is durable. C) It has value other than money. D) It is acceptable to traders.