Economist Jeffrey Sachs' big push theory involves:
A. giving a one-time large amount of aid upfront, ending the need for future aid.
B. developed nations concertedly pushing developing nations into following certain beneficial policies.
C. a concerted effort in many areas to break the poverty trap.
D. developed nations pushing away less developed nations as trading partners because in general less developed nations cannot offer any benefits to developed nations.
Answer: C
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Classical economists
a. argued that the money supply determined aggregate demand. b. regarded monetary policy as unimportant since the quantity of money does not determine the price level. c. believed that the quantity of money influences interest rates and real wages. d. believed that prices would increase more than proportionate to an increase in the money supply.
Future benefits for Social Security will ultimately be determined by _____
a. population growth b. individual decisions on when to retire c. the existence of private accounts d. voters through the political process
A recent news report lamented the plight of corn farmers in Wisconsin due to a severe drought. Which of the following best describes the effect on corn farmers in Minnesota, where sufficient rainfall occurred?
a. Their revenue increases because price increases and demand is elastic. b. Their revenue increases because price increases and demand is inelastic. c. Their revenue decreases because price decreases and demand is inelastic. d. Their revenue decreases because price increases and demand is elastic.
A competitive firm sells 100 units of output for $5 per unit. The firm's marginal revenue amounts to __________
Fill in the blank(s) with correct word