The theory of relative backwardness
a. formulated by Rostow
b. called for substitutions for missing preconditions
c. explained the industrial revolution
d. was an idea of Gerschenkron
e. both b and d are correct
E
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What is the total profit to the monopolist from selling the goods separately?
a. $4,500 b. $6,300 c. $7,000 d. $6,200
Suppose you found $3,000 hidden in your closet and deposited it in a demand deposit account at your bank. If the reserve requirement was 40 percent, the deposit would directly create ____ in excess reserves and ultimately lead to a ____ total increase in the money supply, if all banks in the system lend out 100 percent of their excess reserves
a. $1,800; $7,500 b. $1,800; $5,400 c. $3,000; $7,500 d. $3,000; $3,000
At the peak of a business cycle, employment and GDP are
a. at their lowest b. at their highest c. rising d. falling e. it is impossible to state for certain what is happening to employment and GDP
Fixed exchange rates are fixed by
a. international speculators who manipulate the world's currencies. b. international demand and supply. c. national governments. d. All of the above are correct.