Which of the following is a barrier to economic growth in many developing nations?
A) the shortage of labor
B) the lack of natural resources
C) the lack of economic freedom
D) the low level of restrictions in the labor market
C
You might also like to view...
When the Condorcet system of voting is used, there is always a Condorcet winner
Indicate whether the statement is true or false
For a perfectly competitive firm, the value of the marginal product is
A) the same thing as marginal factor cost. B) the same thing as marginal physical product. C) marginal physical product times the product price. D) marginal physical product times the wage rate.
The entry of new firms into a competitive market will
a. increase market supply and increase market price. b. increase market supply and decrease market price. c. decrease market supply and increase market price. d. decrease market supply and decrease market price.
Draw a graph of the firm's demand, marginal revenue, marginal cost, and average total cost curves.
