Political creative destruction is likely to be opposed:
A) equally in all types of economies.
B) more in a market economy than in a command economy.
C) more in an economy with inclusive institutions than in an economy with extractive institutions.
D) less in an economy with inclusive institutions than in an economy with extractive institutions.
D
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According to your text, controversies about negative externalities are almost always conflicts between the legitimate expectations of citizens and the
A) desire of individuals for greater profits. B) desire of politicians to be reelected. C) legitimate expectations of other citizens. D) mindless urge for more material goods. E) strident demands of environmentalists.
Which of the following goods would see the largest decline in demand during a recession?
A) automobiles B) clothing C) food D) haircuts