For poor countries, a lack of capital and poorly developed infrastructure contribute to low farm productivity.
Answer the following statement true (T) or false (F)
True
To grow their economies-to rise out of Stage 1-poor nations have to invest in agricultural development. Farm productivity has to rise beyond subsistence levels so that workers can migrate to other industries and expand production possibilities.
You might also like to view...
Empirical studies on velocity and money demand have limited usefulness for monetary policy because they often ignore
A) money supply effects. B) interest rate effects. C) inflation effects. D) lags in monetary policy.
When the economy is at full employment and inflation is present, the government could create a surplus budget by cutting its own spending and raising taxes. The Fed would be expected to:
a. reduce the required reserve ratio, increase the discount rate, and buy securities on the open market. b. reduce the required reserve ratio, reduce the discount rate, and sell securities on the open market. c. reduce the required reserve ratio, reduce the discount rate, and buy securities on the open market. d. increase the required reserve ratio, reduce the discount rate, and sell securities on the open market. e. increase the required reserve ratio, increase the discount rate, and sell securities on the open market.
Why does the elasticity of demand for a commodity change over time?
Value judgments are based on people’s tastes, preferences, and ethical opinions.
Answer the following statement true (T) or false (F)