Which of the following statements is true of institutions?
A) They generate 40 percent foreign direct investment (FDI)outflows.
B) They mean the formal and informal rules of the game.
C) They are also called emerging economies.
D) They are firms engaging in foreign direct investment.

Question

Quizplus · Accepted Answer

Institutions refer to the formal and informal rules that govern behavior in a society, often described as the "rules of the game."

Which of the Following Statements Is True of Institutions