60) Creative destruction ________.

A) is beneficial for all economic agents

B) is detrimental to all economic agents

C) is more likely in an economy with inclusive institutions

D) is more likely in an economy with extractive institutions

61) Which of the following statements is true of creative destruction?

A) Creative destruction is generally bad for an economy.

B) Creative destruction is encouraged in economies with extractive

institutions.

C) Creative destruction creates losses for some economic agents and

benefits for others.

D) Creative destruction is a phenomenon that was prevalent before 1800.

62) Political creative destruction ________.

A) is detrimental to all economic agents

B) is beneficial to all economic agents

C) is likely to hamper the ruling government in an economy with inclusive

institutions

D) is likely to adversely affect the ruling government in an economy with

extractive institutions

63) Political creative destruction is likely to be opposed ________.

A) equally in all types of economies

B) more in a market economy than in a command economy

C) less in an economy with inclusive institutions than in an economy with

extractive institutions

D) more in an economy with inclusive institutions than in an economy

with extractive institutions