Explain why the LDCs are unable to invest much in capital goods and human capital
The demands of the growing populations in these countries force them to devote most of their resources to the production of consumption goods, and not enough to the production of capital goods or human capital.
You might also like to view...
In conditions of full employment
A) no one in or out of the labor force is unemployed. B) the only unemployment results from a normal frictions and structural mismatches in the labor market. C) the only unemployment results from cyclical swings in economic activity. D) no one in the labor force is unemployed.
If the interest rate is 11%, $1500 received at the end of 12 years is worth how much today?
a. 500(1+.11)12 b. 500/(1 + .11)12 c. 500/(1 + 11)12. d. 500
The price of a ride on the Washington, D.C. metro depends on the time of day you ride. This is an example of
A. exploitation. B. inefficiency. C. political interference with a market. D. pricing to spread out demand.
Suppose a great baseball player autographed only 50 baseball bats in his lifetime. If those bats are available for purchase online, the supply of the bats will be: a. perfectly elastic
b. highly elastic. c. perfectly inelastic. d. unit elastic.