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Virginia Tech ECON 92237 Quiz 8 1)Institutional stickiness is_________________

Economics

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ECON 92237

Quiz 8

1)Institutional stickiness is_________________.

a.The ability or inability of old institutional arrangements to promote economic growth

b.            The ability or inability of new institutional arrangements to take hold where they are transplanted

c.             The ability or inability of informal institutions to promote economic growth

d.            The ability or inability of formal institutions to promote economic growth

2.            North argues that informal constraints are remarkably easy to change by altering formal rules.

a.            True b. False