What preconceptions do you have of "developing countries"? What do those preconceptions lead you to expect from this course?
What will be an ideal response?
This is totally student-oriented question, calling on the student's own knowledge and hopes.
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If a 35 percent increase in price of golf balls led to an 42 percent decrease in quantity demanded, then the demand for golf balls is
A) relatively elastic. B) relatively inelastic. C) perfectly elastic. D) unit elastic.
The amount of money a firm pays to lease a building it uses for office space is called:
A) the full opportunity cost of production. B) an explicit cost. C) a real cost of production. D) an implicit cost.
Moral hazard occurs when
a. an employer closely monitors an employee. b. two people consider a trade with each other and one person has relevant information about some aspect of the product's quality that the other person lacks. c. an employee lacks an incentive to promote the best interests of the employer, and the employer cannot observe the actions of the employee. d. an employee closely monitors the actions of her employer.
An increase in interest rates decreases the marginal revenue product of investment.
Answer the following statement true (T) or false (F)