Developing countries might be unable to respond smoothly to changing international price signals because of
(a) a lack of government regulation.
(b) an abundance of skilled labor.
(c) inelastic supply curves.
(d) limited foreign exchange.
C
You might also like to view...
If the MPS = 0.25, and intended investment falls from $100 to $75, national income will decrease by
a. $25 b. $75 c. $150 d. $125 e. $100
Since an individual spends a small share of her income on salt, the elasticity of demand is likely to be low
a. True b. False Indicate whether the statement is true or false
All of the following are assumptions of the production possibilities curve EXCEPT
A. resources are fully employed. B. there is a fixed level of technology. C. there is a fixed demand for the products. D. there is a fixed time period.
The average agricultural tariff in the U.S. is about
A) 3 percent. B) 5 percent. C) 9 percent. D) 15 percent.