Government can play a major positive role in the early stage of economic development by:
A. Providing an adequate infrastructure
B. Establishing price controls for products
C. Promoting exports by subsidizing them
D. Creating marketing boards for export products
A. Providing an adequate infrastructure
You might also like to view...
The labels for the axes of the aggregate demand graph should be ________.
A. quantity of a product on the vertical axis and the price of a product on the horizontal axis B. real domestic output on the vertical axis and the price level on the horizontal axis C. real domestic output on the horizontal axis and the price level on the vertical axis D. price of a product on the vertical axis and quantity of a product on the horizontal axis
The quantity demanded of a good
a. is the amount that would be purchased with an unlimited income b. is the amount that would be demanded even if income were zero c. is subject to the buyer's income constraints d. is a fixed amount unaffected by the buyer's circumstances e. must match the amount actually purchased in the market
Briefly explain Schumpeter's model of innovation. Why does an innovator's economic profit eventually reduce to zero?
Assume the current interest rate is 25%. The present value of $1,000 in one year would be
A. $180. B. $450. C. $750. D. $800.