An example of a poverty trap is:
A. the malnourished not having enough energy to develop their economy.
B. the uneducated not knowing how to further develop their economy.
C. those who do not have basic immunizations not being healthy enough to develop their economy.
D. All of these are examples of poverty traps.
D. All of these are examples of poverty traps.
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A restrictive monetary policy is designed to shift the aggregate ________.
A. demand curve to the left B. supply curve to the right C. demand curve to the right D. supply curve to the left
In the one-input model, profit is always maximized where marginal revenue product is equal to the input price.
Answer the following statement true (T) or false (F)
When regulating a natural monopoly, the regulating agency should set price equal to marginal cost
a. True b. False
Elasticity of supply becomes ________ elastic over time because ________
a. less; of the growing scarcity of resources b. less; suppliers have more time to acquire additional resources to achieve desired capacity c. more; demand becomes more inelastic d. more; demand will always continue to increase e. more; suppliers have more time to acquire additional resources to achieve desired capacity