Economic takeoff:
A. occurs when development becomes self-sustaining.
B. will eventually occur in all developing countries.
C. typically occurs in the absence of foreign investment.
D. has yet to occur in any developing country.
Answer: A
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Which of the following statements is correct?
a. Both tax avoidance and tax evasion are legal. b. Both tax avoidance and tax evasion are illegal. c. Tax avoidance is legal, whereas tax evasion is illegal. d. Tax avoidance is illegal, whereas tax evasion is legal.
Compared to the 1948 – 1973 period, the period from 1973 to 1995 can be characterized as a period of
A. faster real GDP growth. B. faster labor productivity growth. C. slower labor productivity growth. D. lower labor force growth.
What is the difference between the short run and the long run?
Please provide the best answer for the statement.
If the price elasticity of demand for a good is less than one in absolute value, economists would characterize consumers of this good
A) as not very sensitive to price. B) as not very sensitive to the quantity they demand. C) as very sensitive to price. D) as elastic.