Explain the lingering effects of colonialism and how it is still playing a role in hindering economic development in the developing world
What will be an ideal response?
Answers should be based on the points covered in the section on the colonial impact as well as in lecture.
You might also like to view...
If the demand for a product decreases and the supply of the same product increases, the equilibrium quantity will increase
Indicate whether the statement is true or false
The financial system performs the role of communicating information by
A) constantly increasing the liquidity of most assets. B) constantly reducing the riskiness of most assets. C) incorporating all available information into the prices of financial assets. D) providing to investors for a nominal charge all government reports available about a particular company.
Fractional reserve banking takes its name from the fact that: a. banks hold only a fraction of their reserves at the bank itself. b. banks keep only a fraction of total deposits on reserve
c. banks reserve only a fraction of their activity for lending. d. all of the above
On a Phillips curve diagram, a decrease in the rate of inflation, other things being equal, is represented by a(n):
A. upward movement along the Phillips curve. B. downward movement along the Phillips curve. C. upward shift of the Phillips curve. D. downward shift of the Phillips curve.