Once the problem of subsistence food growing had been solved, regional growth resulted in which of the following?
(a) Balanced growth across all sectors of the economy
(b) Increased import growth and decreased export growth
(c) Developed export activity
(d) Faltering secondary industrial growth
(c)
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If Mark's marginal utility per dollar spent on the last taco is 15 and his marginal utility per dollar spent on the last burrito is 20 units, what should Mark do to increase his total utility?
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Using the expenditure approach, "gross private domestic investment" is the sum of:
a. newly produced capital goods. b. fixed investment. c. changes in business inventories. d. all of these.
Chad and Libya are two economies in Africa. Suppose Libya's national income is twice the size of Chad's but Libya's economic growth is only half the growth rate of Chad's. Suppose as well that the MPC in each is 0.75 . You would expect then that the
a. level of investment is higher in Chad than in Libya but the level of saving is higher in Libya than in Chad b. level of investment is lower in Chad than in Libya but the level of saving is lower in Libya than in Chad c. level of investment and of saving is higher in Chad than in Libya d. level of investment and of saving is lower in Chad than in Libya e. consumption is greater than saving in Chad but lower than saving in Libya