Foreign aid:
A. provided by developed countries to developing countries represents about 10 percent of the GDP of developed countries.
B. is an important source of funding for investment in most developing countries.
C. does not contribute much to domestic investment in most developing countries.
D. is largely wasted in most developing countries because it comes with no strings attached.
Answer: C
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Which of the following best describes aggregate expenditure?
a. C + I + G + (X ? M) b. C + S + G + (X ? M) c. C + I + G + (X + M) d. C + I + T + (X ? M) e. C + I + T + (X + M)
We measure GDP in different ways because
a. we can then check for errors and gain different insights into how the economy performs b. certain economists do not like the expenditure approach for GDP c. the expenditure equation ignores certain aspects of the economy d. it is too difficult to determine accurate values of consumption and investment e. the particular situations of different countries require different approaches
A firm in a price-taker market
a. must take the price that is determined in the market. b. must reduce its price if it wants to sell a larger quantity. c. must be large relative to the total market. d. can exert a major influence on the market price.
Provide two examples of a government barrier to entry
What will be an ideal response?