The ________ hypothesis states that poor countries are unable to save and invest enough to accumulate capital stock that would help them grow.
A. global-redevelopment
B. equitable investment
C. vicious-circle-of-poverty
D. no-country-left-behind
Answer: C
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When a firm adopts new technology, generally its
A) cost curves shift upward. B) cost curves shift downward. C) cost curves are unaffected. D) supply curve shifts leftward. E) production permanently decreases.
For a common resource, the marginal social cost of the resource is ________ the marginal private cost
A) greater than B) equal to C) less than D) not comparable to
A person who voluntarily quits his/her job in New York and expects to get a similar job in Los Angeles is an example of:
a. structural unemployment. b. cyclical unemployment. c. durational unemployment. d. frictional unemployment.
Suppose you spent your entire budget on goods so that the marginal utility per dollar spent on each is identical. Which of the following is true? a. Your purchases are not efficient because there is no reason why you should buy the same quantity of each
b. You can increase your total utility by shifting income from low marginal utility generating goods to higher marginal utility generating ones. c. You will reduce your total utility if you allocate income in any other way. d. You are minimizing your marginal utility this way, which is what you want. e. You can avoid diminishing marginal utility.