If you were a UN advisor to Sri Lanka and recommended the unbalanced development strategy, you would suggest
a. from beginning to end, massive government planning, financing, and administering the development process, similar to the big-push strategy
b. initial private investment because it is no real cost to the government but later rely on government's forward and backward linkages
c. initial UN aid in infrastructure but otherwise leaving the development process to government planning and financing
d. massive investment by the United Nations
e. initial government investment in infrastructure but otherwise leaving the development process to private sector entrepreneurs
E
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In the modern Keynesian model, velocity
a. varies positively with the level of the interest rate but not with income. b. varies positively with the level of the interest rate and with income. c. is constant. d. varies in the short run but is constant in the long run. e. none of the above
If Joshua buys 10 percent more compact discs when his income increases by 5 percent, then, for Joshua
a. price elasticity of demand for compact discs is greater than one b. compact discs are inferior goods c. compact discs are price inelastic d. compact discs are income inelastic e. compact discs are income elastic
Part of the reason for the success of Facebook is:
A. the avoidance of a positive externality. b. a strong negative network externality. C. a strong positive network externality. D. the avoidance of a negative externality.
Refer to Figure 11-1. If the marginal product of labor curve was plotted on this figure, with marginal product on the vertical axis, the marginal product of labor curve would
A) never intersect the horizontal axis.
B) intersect the horizontal axis at a point between the 5th and 6th unit of labor.
C) intersect the horizontal axis at a point between the 6th and 7th unit of labor.
D) intersect the horizontal axis at a point somewhere beyond the 8th unit of labor