Although Africa's debt/GNP ratio is larger than Latin America's, the debt-service burden is lighter. Explain this and relate it to changes in the nature of development lending in the 1970s
What will be an ideal response?
The key issue is Africa's continued reliance on lower-interest aid, while development of the Euromarket led Latin American countries to seek higher-interest loans that did not come with aid-type restrictions.
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In North Carolina, a car must pass an emissions test before it can be registered. The emissions test costs $20 per car. This system is an example of
a. direct controls on pollution. b. a per-unit emissions tax. c. a "license to pollute." d. subsidies for nonpollution.
If a firm in a monopolistically competitive market has a demand curve shifting to the right, it could be that:
A. the selling price is less than the average total cost of the firm. B. firms are leaving the market. C. negative economic profits are being earned. D. All of these statements are true.
The marginal revenue that would be derived from producing a fourth unit of output is
A. $30.
B. $24.
C. $21.
D. $12.
Externalities are only inefficient when they impose a cost. They are not inefficient when they bestow a benefit.
Answer the following statement true (T) or false (F)