An obstacle to economic growth in developing countries is:
A. The limited demand for natural resources
B. The limited supply of capital goods
C. A decline in population growth
D. The low productivity of capital
B. The limited supply of capital goods
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When countries specialize, total world output increases, and, therefore, the potential for greater total world consumption also increases
a. True b. False Indicate whether the statement is true or false
Suppose that the market labor supply and labor demand equations are given by Qs = 5W and Qd = 30 - 5W. If a minimum wage is set at $4.00 (W = 4), then:
A. 15 workers will be supplied and demanded. B. 10 workers will be supplied, but 20 workers will be demanded. C. 20 workers will be supplied, but only 10 workers will be demanded. D. 20 workers will be supplied and demanded.
Nations that have only a single abundant resource face significant risks, even when that resource is highly valued
Indicate whether the statement is true or false
If a firm operates in a imperfectly competitive market, it may be able to price its products in local currencies above world prices for their goods. This is called
A) pricing to market. B) trade war. C) trade stickiness. D) price gauging.