If colonizers were interested primarily in short-term resource extraction, they
ID: 1208541 • Letter: I
Question
If colonizers were interested primarily in short-term resource extraction, they would likely set up a relatively government in that country.------- Other things equal, a country with a government with limited powers will most likely be ------- productive than a country whose government has unchecked powers. True or False: Less-developed countries have a greater incentive to adopt sound institutions and policies as transportation and communication costs decrease.The Economic Freedom of the World (EFW) rating of the United States------ between 2000 and 2009. Which of the following is a contributing factor of this change? Check all that apply. The United States raised its security standards during this period. Government spending on consumption declined. The public sector accounts for a greater share of credit than before. True or False: Democracy is a necessary criterion for economic freedom.) True FalseExplanation / Answer
If colonizers were interested primarily in short-term resource extraction, they would likely set up a relatively strong government with few limitations on its powers in that country. Other things equal, a country with a government with limited powers will most likely be less productive than a country whose government has unchecked powers. This is so because government with unchecked powers works more efficiently in the direction of profits and not social welfare.
Less-developed countries have a greater incentive to adopt sound institutions and policies as transportation and communication costs decrease. So this is true.
The value of EFW rating of the United States fell from 8.65 in 2000 to 8.21 in 2005 and 7.70 in 2010. The reason for this fall is that government financed by borrowing is now the most prominent characteristic of US fiscal policy. Hence option C is correct.
Democracy is not a necessary condition for economic freedom. Hence it is false.
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