Which of the following is true?
i. The advanced economies account for more than half of global production.
ii. Almost four out of every five people in the world live in the developing economies.
iii. In the advanced economies, agriculture accounts for a larger part of total production than in the developing economies.
A) Only i and ii
B) Only ii and iii
C) Only i and iii
D) Only i
E) i, ii, and iii
A
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What are the factors that can shift the short-run aggregate supply curve but not the long-run aggregate supply curve? Explain your answer
What will be an ideal response?
We benefit from trade if we are able to obtain a good from a foreign country:
a. that has a very low domestic demand. b. the production of which requires a steady supply of unskilled labor. c. by giving up less of other goods than we would have to give up to obtain the good at home. d. by giving up more of other goods than we would have to give up to obtain the good at home. e. that has a substantial number of substitutes in the domestic market.
Using the above table, the national income is (in billions of dollars)
A. 8,950. B. 6,850. C. 7,250. D. 8,050.
Capital flight is a problem facing DVCs that involves the:
A. Difficulty of sustaining skilled workers in the government sector of the DVC economies B. Transfer of private savings from DVCs to IACs C. Flight of agricultural workers from rural to urban areas, especially capital cities, to take advantage of better job opportunities D. Movement of capital goods from IACs to DVCs to avoid taxes