A Nation with Cheap, Efficient Communications Is Likely to Be

question 145

Multiple Choice

A nation with cheap, efficient communications is likely to be

• A) richer, ceteris paribus, because transaction costs will be lower and trade greater.
• B) richer only if production of goods is cheaper, too, since trade itself cannot create value.
• C) poorer since it spends so much on communication instead of true productivity.
• D) spending too much on communications, which adds nothing to the value of output.

Recognize the implications of non-replicable results and false claims in scientific studies.

Comprehend the principle of parsimony in explaining scientific phenomena.

Identify the significance of operational definitions in empirical research.

Recognize the importance of empirical evidence over anecdotal evidence in supporting scientific claims.

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Definitions:

Typewritten Words

Text that has been produced using a typewriter or similar keyboard-driven device.

Handwritten Words

Text or documentation produced through the act of writing by hand, as opposed to typed or digitally produced text.

Negotiable Instruments

Financial documents that guarantee the payment of a specific amount of money, either on demand or at a set time.

Paper Payable

A financial instrument or document that promises the payment of a specific amount of money either on demand or at a specified future date.