The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid.
B. low levels of domestic savings.
C. inappropriate education.
D. overpopulation.
Answer: B
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The process of research and development
A. always leads to useful products. B. almost never leads to useful products. C. often involves a waste of resources. D. is usually conducted in governmental laboratories.
Refer to Figure 4-3. If the market price is $2.50, what is the consumer surplus on the second ice cream cone?
A) $0.50 B) $1.50 C) $3.00 D) $10.50
A small open economy reduces its desired saving. This causes the world real interest rate to ________ and the country's current account balance to ________
A) fall; fall B) remain unchanged; rise C) fall; rise D) remain unchanged; fall
Is the call for protection on the basis of "infant industry" valid?
a. No, because protection has no place in industrial development. b. No, protection is always improper. c. Uncertain, economic theory has no answer to this question. d. Yes, although it can be overstated and abused.