Which of the following best describes the vicious cycle of poverty?
a. Rich countries eventually decline because its citizens become lazy
b. Poor countries eventually improve through investment in education, infrastructure, and capital accumulation.
c. Rich countries stay rich through continued high levels of investment in education, infrastructure, and capital accumulation.
d. Poor countries stay poor because they cannot afford to invest in education, infrastructure, and capital accumulation.
d
You might also like to view...
The self-interest model of government:
a. suggests that government officials are selfish. b. explains why there are limits on government taxation and spending. c. shows who some government projects take place even if the cost exceeds the benefits. d. All of the above.
OutputMarginal RevenueMarginal Cost0----1$16$142169316154162151628Refer to the above data. At the profit-maximizing output, the firm's total revenue is:
A. $38. B. $48. C. $80. D. $64.
Suppose there are 51 firms in a market. The largest firm has sales of $50 million and each of the other firms has sales of $1 million. The Herfindahl-Hirschman Index of this industry is
A. 2,501. B. 2,500. C. 50. D. 2,550.
To prevent the dollar from depreciating, the U.S. central bank can try to fix the currency value of the dollar when they
A. buy foreign currencies in the foreign exchange market. B. sell U.S. dollars in the foreign exchange market. C. abandon the U.S. dollar and use another country's currency as its legal currency. D. buy U.S. dollars in the foreign exchange market.