The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid.
B. low levels of domestic savings.
C. inappropriate education.
D. overpopulation.
Answer: B
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If the social cost of producing a good or service exceeds the private cost
A) the sum of consumer surplus and producer surplus is maximized. B) a positive externality exists. C) the market achieves economic efficiency. D) a negative externality exists.
If the world price of a good is equal to its no-trade equilibrium price, the country will import more of the good from other nations
a. True b. False Indicate whether the statement is true or false
A government will create a surplus in a market when it sets a price
A. floor above the equilibrium price. B. ceiling above the equilibrium price. C. ceiling below the equilibrium price. D. floor below the equilibrium price.
A tariff, unlike a __________, provides revenues to the government.
Fill in the blank(s) with the appropriate word(s).