Patterns of development or structural change analysis stress internal change in a developing country's economic, industrial, and institutional structure. What are some of the most important changes?
What will be an ideal response?
Discussed in the text.
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In the short run, an increase in government expenditure on goods and services ________ real GDP and ________ the price level
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
The value of money for buying goods and services is known as
A) inflation. B) nomination. C) nominal income. D) purchasing power.
Which of the following is true of the aggregate demand curve?
a. The aggregate demand curve shows the various levels of expenditures in the economy at alternative price levels. b. The aggregate demand curve implies a positive relationship between inflation and unemployment. c. The aggregate demand curve is identical to the income consumption curve. d. The aggregate demand curve has the same slope as the aggregate supply curve. e. The aggregate demand curve relates relative prices to the quantity demanded of a particular good.
For the period 1961 to 1969, the Phillips curve for the United States displayed the same shape that A. W. Phillips found for the United Kingdom for the period 1861 to 1913---it was
A) horizontal. B) vertical. C) downward sloping. D) upward sloping.