What is meant by the expression getting prices right? Under what conditions will eliminating factor price distortions

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What is meant by the expression “getting prices right”? Under what conditions will eliminating factor price distortions generate substantial new employment opportunities? (Be sure to define factor price distortions.)

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Economic Development

ISBN: 9780138013882

11th Edition

Authors: Michael P. Todaro, Stephen C. Smith

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Question Posted: Feb 10, 2024 01:02 AM

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What is meant by the expression getting prices right? Under what conditions will eliminating factor price distortions

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Getting prices right is a term used in economics to denote the situation where prices accurately reflect the true scarcity value of resources This mea...View the full answer

Economic Development

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