Most people in LDCs earn their living as _____.
Fill in the blank(s) with the appropriate word(s).
farmers
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Which of the following applies to the "value of money"?
i. It is the inverse of the price level. ii. The value of money falls during economic expansions. iii. It is the quantity of goods and services that a unit of money will buy. A) iii only B) i and ii C) i, ii and iii D) ii and iii E) i and iii
Economics is best defined as
A) how people make money and profits in the stock market. B) making choices from an unlimited supply of goods and services. C) making choices with unlimited wants but facing a scarcity of resources. D) controlling a budget for a household.
When net exports equal zero, the economy is in macroeconomic equilibrium
Indicate whether the statement is true or false
"Trade liberalization should precede capital account liberalization." Discuss
What will be an ideal response?