Which of the following will be required for a country to move up the income ladder and achieve high-income status?
a. rapid growth of the money supply.
b. restrictions limiting the import of goods from other nations, particularly low-wage countries.
c. tax incentives that encourage consumption rather than investment
d. sustained economic growth
D
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A perfectly competitive firm is making an economic profit when
A) its total revenue is greater than its total cost. B) the price is greater than the minimum of its average total cost. C) the price is greater than the minimum of its average variable cost. D) Both answers A and B are correct.
If government finances fiscal policy through additional borrowing, it could affect the loanable funds market by causing
A. an increase in the quantity demanded and an increase in supply for loanable funds. B. an increase in the demand and an increase in the quantity supplied for loanable funds. C. an increase in the quantity demanded and an increase in the quantity supplied for loanable funds. D. an increase in the demand and an increase in supply for loanable funds.
The prices of the products in the World War II POW camps, measured in terms of cigarettes, reflected the products':
A. costs of production. B. retail prices. C. practicality. D. scarcity.
The balance owed on credit cards in the United States in 2014 was $880 billion. When consumers pay off this balance in full,
A) M1 will decrease by $880 billion. B) M1 will remain unchanged but M2 will decrease by $880 billion. C) neither M1 nor M2 will change. D) M1 will increase by $880 billion.