Which of the following statements correctly highlights a difference between countries with extractive economic institutions and countries with inclusive economic institutions?
A) Countries with extractive economic institutions typically have better geographical conditions that countries with inclusive economic institutions.
B) Countries with extractive economic institutions typically have worse geographical conditions that countries with inclusive economic institutions.
C) Entry barriers for new businesses are likely to be lower in countries with extractive economic institutions than in countries with inclusive economic institutions.
D) Entry barriers for new businesses are likely to be higher in countries with extractive economic institutions than in countries with inclusive economic institutions.
D
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The table above shows the total cost incurred by Sue's Coat Shop, a perfectly competitive firm. If the market price of a coat is $285, Sue's will maximize economic profit by selling ________ coats a day
A) 7 B) 11 C) 8 D) 9
The reason Bitcoin's growth rate is very similar to Milton Friedman's k-percent rule is because:
a. Bitcoin has no control over the virtual currency's growth rate. Rather, its growth depends on how quickly individuals and merchants use and accept the currency. b. It is not tied to any nation's business cycle. c. Bitcoins are programmed to increase at the same rate as the world's real GDP. d. All of these statements are true.