In which of these developing regions has food production per capita steadily fallen over the last quarter century?

(a) Africa.
(b) East Asia.
(c) South Asia.
(d) Latin America.


A

Economics

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When tax revenues exceed the government's outlays, the budget

A) has a surplus and the national debt is decreasing. B) is balanced and the national debt is decreasing. C) has a deficit and the national debt is increasing. D) has a surplus and the national debt is increasing. E) None of the above because by law tax revenue cannot exceed the government's expenditures.

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If an industry introduces a labor-saving technology in production, the demand curve for labor in that industry is likely to:

A) shift to the left. B) shift to the right. C) become vertical. D) become horizontal.

Economics

The fact that the firms in an oligopoly are mutually interdependent means that each firm:

A) must consider the reactions of its competitors when it sets the price for its output. B) produces a product that is similar, but not identical, to the products of its competitors. C) produces a product that is identical to the products of its competitors. D) faces a perfectly elastic demand curve for its product.

Economics

In the long run, there appears to be:

a. A clear and unequivocal tradeoff between inflation and unemployment. b. No clear and unequivocal tradeoff between inflation and changes in a nation's nominal exchange rate. c. A clear and unequivocal tradeoff between inflation and employment. d. No clear and unequivocal tradeoff between inflation and changes in a nation's unemployment. e. None of the above.

Economics