According to an Institution-Based View,which of the Following Statements Is

question 49

Multiple Choice

According to an institution-based view,which of the following statements is true of entrepreneurship?

• A) Development of entrepreneurship is equal around the world.
• B) The less entrepreneur-friendly the formal institutional requirements are,the more flourishing entrepreneurship is.
• C) Informal institutions such as cultural values and norms rarely affect entrepreneurship.
• D) Development of entrepreneurship significantly depends on formal institutions.

Recognize the importance and implications of government expenditure on public goods and services.

Evaluate the impact of taxes on consumer choices and market outcomes.

Understand the role of taxes in addressing externalities and funding public services.

Identify the sources of government revenue and the biggest expenditure programs.

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Definitions:

Federal Election

An official process for selecting representatives at the national level in a federal system of government.

Charter of Rights

A formal document outlining the fundamental rights and freedoms guaranteed to individuals, usually established by a governing body.

Constitution

A set of fundamental principles or established precedents according to which a state or other organization is governed.

Liberal Democracy

A political ideology and form of government characterized by fair, free, and competitive elections, along with the protection of civil liberties.