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
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter16: Creating An Environment For Growth And Prosperity
Section: Chapter Questions
Problem 14CQ
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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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