Compared with industrialized economies, most developing countries are poor in the factors of production essential to modern industry: These factors are
A) capital and skilled labor.
B) capital and unskilled labor.
C) fertile land and unskilled labor.
D) fertile land and skilled labor.
E) water and capital.
A
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Open market operations are when the Fed buys or sells
A) government securities from the government. B) corporate securities from banks or some other business. C) government securities from banks or some other business. D) corporate securities from the government. E) gold.
If there is a basic surplus but a positive total deficit, then
A) interest cost > basic surplus. B) interest cost < basic surplus. C) interest cost > positive total deficit. D) interest cost < positive total deficit.
A good that is similar to another, and can be consumed in place of it, is called
A) a normal good. B) an inferior good. C) a complementary good. D) a substitute good.
In the above figure, suppose the monopolist is producing at Q3. The firm should
A) increase output and decrease price. B) decrease output and increase price. C) not change output or price. D) shut down.