Which of the following is likely to be a characteristic of a developing economy?
A. The export of only manufactured goods The efficient use of labor
B. A high rate of economic growth
C. A low rate of growth of population
D. A high rate of illiteracy
Ans: D. A high rate of illiteracy
You might also like to view...
Refer to the above table. What is the marginal factor cost when the firm employs the third unit of labor?
A) $62 B) $57 C) $25 D) $21
Entry of new firms will occur in a monopolistic competitive industry until:
a. marginal cost equals zero. b. marginal revenue equals zero. c. marginal revenue equals marginal cost. d. economic profit equals zero. e. economic profit is negative.
Economic growth can be illustrated by an outward shift of the PPC
a. True b. False Indicate whether the statement is true or false
Which of the following economic variables is affected when the government adopts countercyclical fiscal policy?
A) Government spending B) Bank reserves C) Interest rates D) M2 measure of money supply