To grow and prosper, less-developed countries must not:
a. invest in human capital.
b. build a strong infrastructure.
c. shift resources out of the production of consumer goods and into the production of capital goods.
d. shift resources out of the production of capital goods and into the production of consumer goods
e. improve the quality of the water supply
d
You might also like to view...
What is a budget constraint?
What will be an ideal response?
Tariffs can be used to redistribute income from
A) abundant factors to scarce factors. B) consumers to domestic producers. C) from one country to another. D) All of the above.
Which of the following is true in long-run equilibrium for both perfect competition and monopolistic competition?
a. Accounting profit is zero. b. Marginal cost equals price. c. Long-run average cost is at a minimum. d. Economic profit is zero.
To say that something is scarce means that:
a. it is no longer available in stores. b. it must be conserved at any cost. c. even the government cannot supply it. d. sufficient amounts of it available only at a zero price. e. not enough is available to satisfy people's wants at a zero price.