Question

1. A malaria vaccine can be effective in controlling spread of the disease; however, the process of developing such a vaccine had been very slow. Which of the following gives the best reason for this situation?

1. It is very difficult and costly to develop the vaccine.
2. Pharmaceutical companies fear that they would be pushed to lower prices close to production costs once vaccine development has succeeded, making them unable to recoup R&D costs.
3. Government and international sponsors had no interest in supporting such a vaccine.
4. The demand for the vaccine is low, so the price will be low.

2. Which of the following is incorrect about the impact of the policy/institution of a country?

1. Insecure property rights of the land can discourage farmers from making investments on the farm.
2. Policies that subsidize small firms may cause inefficient firms to grow.
3. The agricultural output can be maximized if land is equally allocated among farmers
4. The historical institution of a country may have a long-term impact on its economic performance.

3. Which of the following statements is incorrect about misallocation of capital across firms?

1. If there is no misallocation, the marginal product of capital should be increasing with firm-level productivity.
2. If there is no misallocation, the marginal product of capital should equalize across firms.
3. Policy that imposes a higher tax rate on larger firms can lead to misallocation of capital.
4. Policy that imposes a lower tax rate on larger firms can lead to misallocation of capital.

4. Which of the following statements is incorrect regarding the role of education?

1. How much education is worth for economic growth depends on what the educated people are doing with their skills.
2. The response of economic growth to an education expansion varies substantially across countries.
3. Institution and government policy can influence the impact of an education expansion program on economic growth.

An education expansion sponsored by government will boost economic growth for sure.

Answer 1

Question- A malaria vaccine can be effective in controlling spread of the disease; however, the process of developing such a vaccine had been very slow. Which of the following gives the best reason for this situation?

Answer- The correct answer is OptionA, that is :

It is very difficult and costly to develop the vaccine.

As because the development of malaria vaccine has faced several difficulties like- few developers and technical complexity of developing a vaccine against a parasite.

Moreover Malaria parasites have a Very complex life cycle, poor understanding of the response of immune system to Malaria infection.

Malaria parasites produce thousands of potential antigens Which is different from the diseases for which we have vaccines.

Acquired immunity will only help in fighting against future diseases but Malaria infection can persist for months without symptoms.

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