The key factors in raising standards of living in low-income countries have been increases in
A) capital accumulation and the money supply.
B) income and government ownership of resources.
C) foreign aid and population.
D) technology and knowledge.
D
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Rural-urban migrants differ from the rest of the rural population in that they are more likely to be
(a) well educated (b) poor (c) female (d) all of the above
In a given year, a country's GDP = $9841, net factor payments from abroad = $889, taxes = $869, transfers received from the government = $296, interest payments on the government's debt = $103, consumption = $8148, and government purchases = $185
The country had private saving equal to A) $285. B) $3850. C) $2397. D) $2112.
In long-run competitive equilibrium, a firm that owns factors of production will have an
A) economic profit = $0 and accounting profit > $0. B) economic profit > $0 and accounting profit = $0. C) economic and accounting profit = $0. D) economic and accounting profit > $0. E) economic and accounting profit can take any value.
In both perfect competition and monopolistic competition, each firm
a. has some monopoly power. b. sells a product that is at least slightly different from those of other firms. c. faces a downward-sloping demand curve. d. has many competitors.