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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According to the above table, at a price of $16 per DVD, there is
A) an equilibrium. B) a surplus of 3000 DVDs. C) a shortage of 3000 DVDs. D) a shortage of 1500 DVDs.
Compare two economies: a barter economy versus an economy that uses money. In order to exchange goods and services:
A. the money economy requires that sellers have more information about buyers' wants. B. transactions are likely to be smoother in the barter economy because goods and services are exchanged directly. C. a double coincidence of wants is necessary in the barter economy. D. a double coincidence of wants is more likely to occur in the barter economy.
When I buy an $12.00 movie ticket rather than two paperback books, the opportunity cost of going to the movie is the two paperback books I did not buy
Indicate whether the statement is true or false
Which of the following statements is FALSE?
A) When it comes to overall productive efficiency, compared to Japan, Germany and the rest of the European Union, the United States lags far behind. B) Sophisticated financial systems have given U.S. productive efficiency a boost. C) The United States' international competitive position has been helped by its long history of widespread entrepreneurship. D) Economic restructuring and investments in information technology have added to productive efficiency in the United States.