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Author Question: Consider two countriesA and B. Both the countries are identical except for the fact that ... (Read 32 times)

fahad

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  • Posts: 570
on: Jun 30, 2018
Consider two countriesA and B. Both the countries are identical except for the fact that institutions are extractive in country A and institutions are inclusive in country B.
 
  Given this information, which of the following statements will be true?
  A) Country A will be characterized by higher output and larger number of entrepreneurs than country B.
  B) Country A will be characterized by lower output but larger number of entrepreneurs than country B.
  C) Country A will be characterized by lower output and smaller number of entrepreneurs than country B.
  D) Country A will be characterized by higher output but lower number of entrepreneurs than country B.

Question 2

Which of the following should be included in U.S. GDP?
 
  A) a 3D television manufactured in Thailand and sold in the United States
  B) a 3D television manufactured in the United States and sold in Thailand
  C) a 3D television manufactured in Thailand by a U.S. firm and sold in the United States
  D) a used 3D television manufactured in the United States and sold in Thailand
Macroeconomics: Principles, Applications and Tools ¦ O'Sullivan, Sheffrin, Perez ¦ 7th Edition
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k.lashomb

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Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

B


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