The International Monetary Fund divides nations into three groups. What are the three groups and what are the characteristics of each group?
What will be an ideal response?
The International Monetary Fund divides nations into "advanced economies," "developing economies," and "emerging market economies." Advanced economies are the countries or regions that have the highest living standards. Industrialized nations such as the United States, Canada, and Japan are included, as are the newly industrialized Asian economies. Developing economies are the countries that have yet to achieve a high standard of living. Nations in Africa, Central America, and South America fall into this category. The emerging market economies are nations that are changing how they organize their economies. In the past, their economic system relied upon state-ownership of capital and direct government management of the economy. They now are moving to more reliance upon a system of free enterprise, that is, a system similar to what exists in the United States. Emerging market economies are Russia and the other nations in Eastern and Central Europe that used to be Russian satellites.
You might also like to view...
In the classical model, an increase in aggregate demand will cause
A) an increase in actual output, or Gross Domestic Product (GDP). B) a decrease in actual output, or Gross Domestic Product (GDP). C) a decrease in price level. D) an increase in price level.
In the above figure, which part corresponds to a destruction of part of the nation's capital stock?
A) Figure A B) Figure B C) Figure C D) Figure D
In making the "Malthusian Prediction," Reverend Malthus assumed that:
a. technological advance would be rapid; the supply of capital was unlimited; birth control techniques would limit population growth. b. there would be little if any technological advance; the supply of capital was fixed; birth control techniques would limit population growth. c. the supply of land was fixed in quantity; there would be little if any technological advance; the sexual desires of humans would work to increase production. d. the supply of land was fixed in quantity; technological advances would be rapid; the sexual desire of humans would lead to rapid population growth.
The marginal revenue that would be derived from producing a fifth unit of output is
A. $18.
B. $16.
C. $14.
D. $12.