Explain the concept of the "idea gap" in development economics
What will be an ideal response?
Developing countries lack knowledge, information, and skills for production and productivity in comparison to more developed countries.
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When a government allows raw materials and other intermediate products to enter a country duty free, this generally results in a(an)
A) effective tariff rate less than the nominal tariff rate. B) nominal tariff rate less than the effective tariff rate. C) rise in both nominal and effective tariff rates. D) fall in both nominal and effective tariff rates. E) rise in only the effective tariff rate.
The skewness is most likely positive for one of the following distributions:
A) The grade distribution at your college or university. B) The U.S. income distribution. C) SAT scores in English. D) The height of 18 year old females in the U.S.
The use of foreign exchange reserves to keep exchange rates constant over time is called
A) a fixed exchange rate system. B) the Bretton Woods system. C) a fiscal fix. D) a floating exchange rate system.
Answer the following statements true (T) or false (F)
1) An employer (biased against African Americans) whose discrimination coefficient is $5 will hire only whites if the actual African-American-white wage gap is $7. 2) A reduction in the collective discrimination coefficients of employers will increase the wage rate of those discriminated against but reduce their employment. 3) Statistical discrimination is also known as occupational discrimination. 4) The crowding model of occupational segregation predicts that domestic output will increase if occupational segregation is ended.