Describe some of the features hindering developing countries from growing faster
What will be an ideal response?
One of the features that can be hold developing countries from growing faster is corruption. The way governments control the economy by developing restrictions that would not allow international trade among other countries; knowing that by having the doors open for international trading the country can be better off. More over, governments also owning or controlling the largest industries, that produce more in the countries, and controlling international transactions, they do not led new opportunities to come into their society.
These governments also do tax evasion, which must of the time in some countries it's been out of control. Basically, developing countries have been managed by corrupt and inexperience peoples that just want to disturbed instead of encouraging new opportunities for a better future.
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People like consuming peanut butter and jelly together. The price of peanuts increases. At the same time, we see the price for Jelly rise. How does this affect the market for peanut butter?
a. The demand curve will shift to the left; the supply curve will shift to the left b. The demand curve will shift to the left; the supply curve will shift to the right c. The demand curve will shift to the right; the supply curve will shift to the left d. The demand curve will shift to the right; the supply curve will shift to the right
In a typical production function, the relevant factors of production are land, labor, capital, and
A. resources. B. raw materials. C. technology. D. entrepreneurship.
Why is GDP not a good measure of aggregate welfare?
A. GDP includes the value of intermediate goods B. trade between countries is not included in GDP C. GDP does not include the value of production done in the home D. the government calculates GDP
A firm's net income is its revenue minus its costs of production.
Answer the following statement true (T) or false (F)