Which of the following is a characteristic of an LDC?
a. All of the answers are correct.
b. Lack of entrepreneurs
c. Capital flight
d. Vicious circle of poverty
a
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Shortage means the same thing as scarcity
Indicate whether the statement is true or false
What is the difference between a price ceiling and a price floor? Compared to the competitive equilibrium price, where must price ceilings and price floors be set to have an effect on the market
What will be an ideal response?
Mary deposits funds into a CD at her bank. The CD has an annual interest of 4.0%. If Mary leaves the funds in the CD for two years she will have $540.80. What amount is Mary depositing?
A. $500.00 B. $520.00 C. $512.40 D. $514.50
In Figure 6.6 if price is P1, then the industry will:
A. expand. B. contract. C. stay the same size. D. merge.