Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country.
B. creates cultural and social differences among groups in developing countries.
C. produces excessive levels of domestic saving.
D. redistributes income.
Answer: A
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In a given population the median income will always be the same as the average income
a. True b. False
The unemployment rate measures the number of unemployed people expressed as a percentage of the total population
a. True b. False Indicate whether the statement is true or false
Specializing in the production of a good or service in which one has a comparative advantage enables a country to do which of the following?
A) never have to engage in trade with other nations B) increase the variety of products that it can produce with a decrease in resources C) consume a combination of goods that lies outside its own production possibilities frontier D) produce a combination of goods that lies outside its own production possibilities frontier
The following national income data are in billions of dollars
Refer to the above data. National income in this economy is:
A.
$804 billion
B.
$940 billion
C.
$975 billion
D.
$1,019 billion