So simple... I couldn't even remember it

CFA Level II
#1

What are the three preconditions for economic growth?

#2

holy sht. property rights is one.

#3

Property rights system of exchange well functioning markets I had to look up #3

#4

market, property and …hmmm… shit… i forgot…savings?

#5

That’s right. I hated myself for not knowing this as it’s a typical conceptual question they may ask that you cannot afford to miss.

#6

property rights monetary exchange and…MKTs

#7

markets property rights monetary exchange

#8

also know the 1/3 rule: simple and easy marks I bet your ass will be on there: at any given tech level 1% increase increase in cap/labor hour = 1/3% inc. in real GDP meaning 2/3 is due to tech.

#9

ok look at this… if a county has no monetrary exchange, property rights and market then… its not even a @#$%& country…its like living in the primitive age…

#10

You would get it in a mult choice format.

#11

^^ Nonsense. Belgium does have monetary exchange.

#12

…no incentive for them for economic growth… hows the GDP growth like there?