In order for a country to develop a high per capita GDP, it must have a rich endowment of natural resources, particularly energy and mineral resources
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If the currency drain ratio is 0.2 and the desired reserve ratio is 0.03, the money multiplier is
A) 5.22. B) 6.67. C) 0.76. D) 4.46. E) 3.23.
What is meant by petrodollar recycling? Explain the mechanism by which this phenomenon occurred. What were the consequences of this phenomenon for developing countries?
What will be an ideal response?
Federal budget deficits
A. help stabilize the economy during recessions and depressions. B. depress interest rates. C. rarely occurred prior to the Reagan Administration. D. stimulate investment spending by businesses. E. are always undesirable.
An expected increase in the future price of automobiles will lead to
A. a movement down the demand schedule for automobiles. B. a reduction in the demand for gasoline today. C. no predictable impact on today's demand for automobiles. D. an outward shift in demand for automobiles today.