Economic takeoff:
A. occurs when development becomes self-sustaining.
B. will eventually occur in all developing countries.
C. typically occurs in the absence of foreign investment.
D. has yet to occur in any developing country.
Answer: A
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Refer to Goods X and Y. How would a budget line be affected if income and both prices all simultaneously doubled?
Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions. a. It would shift out so that all quantities are doubled. b. It would shift in so that all quantities are halved. c. It would not be affected. d. The slope would be doubled.
Economic profit provides an incentive for persons investing in human and physical capital to
a. undertake investment projects yielding an uncertain return. b. discover and develop beneficial (productive) investment opportunities. c. produce products that increase the value of resources. d. do all of the above.
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A. increase; smaller B. increase; larger C. reduce; smaller D. reduce; larger
When mortgage loans are securitized, they are
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