Which of the following factors has been suggested as an explanation for the lack of economic growth in many poor nations?
A. the supply of human resources is too high.
B. insufficient capital formation
C. inadequate level of resources
D. a lack of dependence on the already developed nations
Answer: B
You might also like to view...
Ceteris paribus, an increase in the money supply will lower short-term interest rates
Indicate whether the statement is true or false
What does the coefficient a in the new classical expression for short-run aggregate supply represent?
A) the full employment level of output B) the price level in the previous period C) how much output responds when the actual price level differs from the expected price level D) how much the price level responds when the actual level of output differs from the full employment level of output
When we study macroeconomics,
a. we model tens of thousands of individual supply and demand curves b. we determine thousands of prices and quantities c. we employ aggregation to reduce the number of markets we need to understand d. we add up all the demand and supply curves that are obtained in microeconomics e. we add up the prices of all goods and services produced in the economy
Dana, a recent graduate with a degree in economics, turned down a job offer paying $50,000 a year and instead chose to become an entrepreneur. He borrowed $15,000 from a bank at a 10 percent interest rate and that was sufficient to pay for all his equipment, materials, and labor. Dana's accountant told him that the business generated a total revenue of $70,000 in the first year. How much of a
return on his entrepreneurial ability did Dana earn? a. $7,000 b. $20,000 c. $18,500 d. $50,000 e. $70,000