Economic growth and development in LDCs are low because many of them lack:
a. saving.
b. infrastructure.
c. a political environment favorable to growth.
d. All of the answers are correct.
d
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Interest rates in the economy have fallen. How will this affect aggregate demand and equilibrium in the short run?
A) Aggregate demand will fall, the equilibrium price level will rise, and the equilibrium level of GDP will fall. B) Aggregate demand will fall, the equilibrium price level will fall, and the equilibrium level of GDP will fall. C) Aggregate demand will rise, the equilibrium price level will fall, and the equilibrium level of GDP will rise. D) Aggregate demand will rise, the equilibrium price level will rise, and the equilibrium level of GDP will rise.
The presence of government in the market leads to:
A. benefits at no cost to society. B. rent seeking. C. adverse selection. D. externalities.
The primary goal of central bankers is to mitigate the consequences of bubbles, not to prevent bubbles.
Answer the following statement true (T) or false (F)
If a firm takes the wage as given, then the supply curve of labor to that firm is
A) horizontal. B) vertical. C) upward sloping. D) downward sloping.