The vicious circle of poverty refers to the fact that in LDCs,
a. low living standards lead to declines in population growth
b. consumption goods are preferred to capital goods
c. people are poor because land is scarce
d. there are too many older people
e. poverty leads to low investment in capital goods
E
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The presence of government corruption in some countries
A) slows their economic growth. B) speeds their economic growth. C) invalidates the new growth theory's predictions. D) supports the classical growth theory's predictions. E) invalidates the neoclassical growth theory's predictions.
The average productivity of capital is defined as the ratio of total capital employed to the total output produced
a. the extra output produced by employing one more unit of capital while holding other inputs constant. b. the extra output produced by employing one more unit of capital while allowing other inputs to vary. c. the ratio of total output produced to the quantity of capital employed. d.
An increase in the government budget deficit shifts the supply of domestic currency in the market for foreign exchange to the right
a. True b. False Indicate whether the statement is true or false
Which statement is true about the banking industry in the 1920s?
a. Consumer confidence in banks increased during the 1920s. b. Bank failures caused by depositors withdrawing their money in large numbers were common. c. Bank executives were generally corrupt and were the primary cause of bank troubles. d. The industry was severely depressed during most of the decade.