Question

1.

According to the text, _________ is a good example of positive institutional change and _________ is an example of destructive institutional change in regard to economic and political institutions.

Select one:

a. Atlanta, Detroit

b. China, Zimbabwe

c. Mexico, New Zealand

d. Indiana, Missouri

2.

Which of the following is not among the key institutions that has consistently fostered economic growth?

Select one:

a. Natural resources

b. Property rights

c. Rule of law

d. Political stability

3.

Which of the following is FALSE regarding the Henry Ford article?

Select one:

a. Many of the early highways in the US were paid for by private funds

b. Ford was reluctant to change the Model T

c. Over a period of time, Ford cut the price of the Model T from $850 to around $300.

d. Ford tended to be in favor of Roosevelt’s’ New Deal programs, such as the National Recovery Act

Answer 1