Often an economy does not adopt better institutions because a) the better institutions may be blocked by international organizations b) it is difficult to know which institutions generate good economic performance c) the better institutions may require lower taxes d) the people in power would not benefit from better institutions even though the economy would improve substiantially
Often an economy does not adopt better institutions because a) the better institutions may be blocked by international organizations b) it is difficult to know which institutions generate good economic performance c) the better institutions may require lower taxes d) the people in power would not benefit from better institutions even though the economy would improve substiantially
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 20SQ
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Question
Often an economy does not adopt better institutions because
a) the better institutions may be blocked by international organizations
b) it is difficult to know which institutions generate good economic performance
c) the better institutions may require lower taxes
d) the people in power would not benefit from better institutions even though the economy would improve substiantially
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It is true that often economy does not adopt better institutions.
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