Which of the following is true?
a. in recent decades, the rich countries of the world have consistently grown more rapidly than poor countries.
b. no LDC was able to achieve a more rapid growth rate than the United States during the 1980 through 2005 period.
c. during recent decades, most LDCs have stagnated economically.
d. during 1980 through 2005, the fastest growing countries in the world were mostly LDCs.
D
You might also like to view...
A closer relationship exists between GDP and nonresidential investment than between business profits and investment spending
Indicate whether the statement is true or false
The natural real GDP will ________ following a rise in energy prices because
A) rise; labor productivity increases. B) fall; labor productivity increases. C) fall; real wages are flexible and employment is less attractive relative to leisure. D) B and C are both correct.
Refer to Figure 3.2. Which assumption concerning preferences do Alvin's indifference curves violate?
A) Diminishing marginal rates of substitution B) Transitivity of preferences C) More is preferred to less D) Completeness E) both A and C
Aimee sells hand-embroidered dog apparel over the Internet. Her annual revenue is $128,000 per year, the explicit costs of her business are $42,000, and the opportunity costs of her business are $30,000. What is her economic profit?
A) $12,000 B) $56,000 C) $86,000 D) $98,000