Economic growth and development in LDCs are low because many of them lack:
a. saving.
b. infrastructure.
c. a political environment favorable to growth.
d. All of these.
d
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The observation that consumer purchases of walnuts decline as the price rises reflects:
a. a decrease in demand. b. the law of demand. c. an increase in demand. d. the law of supply.
Refer to the scenario above. The retailer adds a value of ________ to the production process
A) $3 billion B) $1 billion C) $10 billion D) $5 billion
Which of the following is likely to shift the demand curve for engineers rightward, assuming all else equal?
A) An increase in the wage rate paid to engineers B) A decrease in the wage rate paid to engineers C) An increase in the productivity of engineers D) A decrease in the price of all products manufactured by engineers
Refer to Table 8-18. What is the GDP deflator in 2011 if 2016 is the base year?
A) 187 B) 87 C) 8.7 D) 0.87