Less-developed countries often have low economic growth rates because of
a. low population growth rates and poor infrastructure
b. low current output per capita, high population growth rates and good infrastructure
c. low current output per capita, high population growth rates and poor infrastructure
d. low current output per capita, low population growth rates and poor infrastructure
e. low current output per capita and poor infrastructure
C
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The table above shows how the number of books Katie buys each year depends on her income a. What kind of relationship exists between Katie's income and the number of books she purchases? b
Plot the relationship between Katie's income and the number of books she purchases in the above figure. Measure income along the vertical axis and the number of books along the horizontal axis. Be sure to label the axes. c. What is the slope of the relationship between $50,000 and $70,000 of income? d. What is the slope of the relationship between $90,000 and $110,000 of income? e. Comment on the similarity or dissimilarity of your answers to parts (c) and (d).
Explain how the input and output markets are connected
What will be an ideal response?
Refer to Figure 9-5. With the tariff in place, the United States
A) imports 20 million pounds of coffee. B) exports 38 million pounds of coffee. C) imports 18 million pounds of coffee. D) imports 12 million pounds of coffee.
If output exceeds its full-employment level, the wage rate will eventually fall, causing a drop in the price level and a drop in real GDP until full employment is restored
a. True b. False