Which of the following is NOT a method for promoting global economic growth?
A. Count on developed nations to develop policies that promote economic growth in developing nations.
B. Rely on private markets to direct capital goods toward their best use.
C. Encourage population growth so that developing nations' labor supply increases.
D. market based approach
Answer: C
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In the late 19th century, the chief railroad terminus was:
a. New York. b. Chicago. c. New Orleans. d. St. Louis.
Exhibit 4-2 Supply and demand curves
The market shown in Exhibit 4-2 is initially in equilibrium at E1. Changes in market conditions result in a new equilibrium at E2. This change is stated as a(n):
A. increase in supply and an increase in quantity demanded. B. increase in supply and a decrease in demand. C. decrease in supply and a decrease in quantity demanded. D. increase in demand and an increase in supply.
An increase in the price of one good can cause the demand for another good to increase if the goods are substitutes.
Answer the following statement true (T) or false (F)
Discuss the substitution and real-income effects of a price decrease
What will be an ideal response?