It is not possible for a country to experience
a. economic development without economic growth.
b. economic growth without economic development.
c. economic growth and economic development simultaneously.
d. both (a) and (b) are correct.
Answer: a. economic development without economic growth.
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Explain why international capital markets have expanded since the 1980s
What will be an ideal response?
Which of the following best defines the specialization of resources?
a. Workers are compensated as individuals. b. Special resources are needed to produce most goods. c. Each resource is paid for in full. d. Each resource is paid the most if it is specialized. e. Each resource is focused on a limited number of productive activities.
Elasticity provides a guide to both
a. market stability and change in revenue as price changes. b. responsiveness of quantity demanded to a change in price and market stability. c. responsiveness of quantity demanded to a change in price and change in revenue as price changes. d. technological change and change in revenue as price changes.
A group of entrepreneurs is trying to decide which of five new product ideas to select. Which tool can be used to help make the decision?
A. Decision matrix B. Entrepreneurial discovery process C. Business processes D. Opportunity cost analysis