Which of the following helps low-income countries grow rapidly relative to high-income countries?
A. Low-income countries are in a better position to save a larger share of their income.
B. Low-income countries can employ technologies and practices that have been successful in high-income countries.
C. Low-income countries generally have legal systems that protect property rights and enforce contracts in a more evenhanded manner.
D. Low-income countries generally have more favorable weather conditions.
Answer: B
You might also like to view...
In the business cycle, a trough marks the end of a(n) _____ and the beginning of a new _____
a. contraction; expansion b. peak; expansion c. expansion; contraction d. peak; contraction e. expansion; peak
A tariff is a tax on imports imposed by the country that is importing the goods
a. True b. False Indicate whether the statement is true or false
When the U.S. experiences economic growth, the poverty rate will:
A. increase, because growth typically only benefits the richest 1 percent. B. fall, because growth typically helps the poor more than the wealthy. C. fall, because growth has benefited everyone. D. increase, because growth has benefited the wealthy more than the poor.
If the central bank decreases the money supply, it is conducting
A. monetary policy. B. fiscal policy. C. supply-side policy. D. incomes policy.