Foreign aid:
A. provided by developed countries to developing countries represents about 10 percent of the GDP of developed countries.
B. is an important source of funding for investment in most developing countries.
C. does not contribute much to domestic investment in most developing countries.
D. is largely wasted in most developing countries because it comes with no strings attached.
Answer: C
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What does the price elasticity of demand show?
In the market for sweaters, suppose Green's price elasticity of demand is 0.2, Smith's price elasticity is 1.2, and the price elasticity of all the other consumers is greater than 0.2 but less than 1.2 . Could the market price elasticity be less than 0.2 or greater than 1.2?
The inflation rate is the annual percentage change in the average price level.
Answer the following statement true (T) or false (F)
Price discrimination always benefits:
A. the firm and may benefit or harm the consumer. B. the consumer and may benefit or harm the firm. C. consumers and firms. D. consumers only.
If a household earning $50,000 annually pays $10,000 in taxes while a household earning $100,000 annually pays $20,000 in taxes, then the tax system is
A. progressive. B. redistributive. C. neither regressive nor progressive. D. regressive.