Which of the following provides the best explanation of why low-income countries general remain poof?
What will be an ideal response?
Their institutional arrangements and policies often discourage productive activity and reduce the potential gains from specialization and exchange.
You might also like to view...
A firm sells 30 units of its product at a price of $5 per unit. It incurs a fixed cost of $100 and a variable cost of $20. The firm's profit is:
A) $30. B) $50. C) $100. D) $150.
In the 18th century, Southern tobacco planters found that the use of ____________ was economical once the plantation reached a certain size
a. horses b. a plantation manager c. indentured servants d. an iron plow
The equality-efficiency trade-off refers to:
A. the conflict between risk averters and risk takers. B. the willingness of Congress to abandon existing welfare programs in favor of a comprehensive plan to increase education and training for low-income persons. C. possible conflicts between the goals of economic efficiency and greater income equality. D. the difference between the goals of income equality and equality of economic opportunity.
Refer to the data provided in Table 9.1 below to answer the question(s) that follow.
Table 9.1
Refer to Table 9.1. If the market price is $42, then in the long run the firm will
A. operate and expand. B. operate but not expand. C. shut down, but not go out of business. D. go out of business.