Foreign direct investment generally leads to technological advancements in poorer countries.
Answer the following statement true (T) or false (F)
True
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Define induced expenditure and autonomous expenditure. Which expenditure items are induced expenditure and which are autonomous expenditure?
What will be an ideal response?
Cyclical unemployment
A. occurs even when an economy is producing at a point on its production possibilities frontier. B. occurs only during a recession. C. tend to occur when an economy experiences inflation. D. is a part of an economy's natural rate of unemployment.
Implicit costs
A. Are the value of resources used for which no direct payment is made. B. Are the total opportunity costs of resources and inputs used to produce a good. C. Represent actual monetary payments made for resources used to produce a good such as oil. D. Include only payments to workers and lenders.
Figure 18.1Refer to Figure 18.1. The opportunity cost of bicycles in the United States is:
A. 1/3 of a hang glider. B. 1/2 of a hang glider. C. 3 hang gliders. D. 4 hang gliders.