An economically backward nation has the best chance of enjoying relatively high rates of economic growth if it
A) turns toward central economic planning.
B) adopts advanced technologies.
C) raises its minimum wages and government pension programs.
D) limits imports as much as possible.
B
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In the steady state, real GDP per worker ________, and real GDP per effective worker ________
A) will grow; will grow B) will grow; is constant C) is constant; will grow D) is constant; is constant
Mercantilism followed feudalism. Unlike feudalism, mercantilism did not support any form of a strong central government or system of nation states
Indicate whether the statement is true or false
One reason for international specialization in production is
a. a high tariff imposed by a national government b. a low tariff imposed by a national government c. diminishing returns to a variable factor of production d. the different resource endowments throughout the world e. high fixed costs of production
If a corporate bond with face value of $8,000 has an interest rate of 4 percent paid once a year for a term of 30 years, what is the size of the coupon payment?
A) $320 B) $2,000 C) $8,000 D) $9,600