According to the text, as compared to rich countries, most of the poor countries do not fare well because:
a. they have no oil.
b. the people in these countries have limited property rights.
c. access to education in these countries is very limited.
d. high tariffs in these countries prevent international trade.
e. they do not have any natural resources.
b
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Perfect price discrimination
a. is a common occurrence in situations with many buyers. b. occurs fairly often in situations with only a few buyers. c. is only observed in competitive markets. d. rarely occurs because firms do not have sufficient power to differentiate among specific buyers.
When economists talk about a "balance of payments" deficit, they refer to a condition in which total debits exceed total credits in the balance of payments account
a. True b. False Indicate whether the statement is true or false
A nation's country-risk premium increases if:
a. Central bank policies become more predictable. b. Expected inflation becomes harder to predict. c. Its government becomes more stable. d. All of the above. e. None of the above
Suppose that the table shown shows the demand and supply schedules for pork bellies. Which of the following statements is true?Price($/lb.)Quantity demanded (lbs.)Quantity Supplied (lbs.)$0.1030,0005,000$0.2025,00010,000$0.5020,00020,000$0.7515,00030,000$0.955,00040,000
A. There would be a shortage of pork bellies if the price were $0.25 per pound. B. There would be a shortage of pork bellies if the price were $0.50 per pound. C. There would be a surplus of pork bellies if the price were $0.25 per pound. D. There would be a surplus of pork bellies if the price were $0.50 per pound.