1. Systems and equipment for communication, transportation, and sanitation make up
a. Private goods
b. Capital infrastructure
c. Government services
d. Human capital
2. In developing countries, on average, nearly ___ of the labor force is employed in the agricultural sector; compared to 3% in industrial market economies.
a. 90%
b. 70%
c. 50%
d. 30%
3. Which is NOT an example of “Rules of the Game” or economic institutions?
a. A handshake to seal a deal
b. Well-defined property rights
c. Government ownership of resources (under communism and sometimes socialism)
d. Firms’ increase of supplies when shortages occur