It is believed that the relatively high rate of labor force growth in the developing countries does not translate into a high rate of economic growth because:
a. workers in developing countries have excess capital.
b. workers in developing countries are not motivated enough.
c. workers in developing countries do not have the natural resources needed for production.
d. workers in developing countries have very little capital.
e. the high birth rate is more than offset by an enormous mortality rate.
d
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Historically those few developing countries which have succeeded in significantly raising their per-capita income levels
A) did not accomplish this with import-substituting industrialization. B) did accomplish this with import-substituting industrialization. C) tended to provide heavy protection to domestic industrial sectors. D) favored industrial to agricultural or service sectors. E) did so to the detriment of their nearest neighbors.
Under a system of flexible exchange rates, which of the following will most likely cause a nation's currency to appreciate on the foreign exchange market?
a. a decrease in domestic interest rates b. an increase in foreign interest rates c. domestic inflation of 10 percent while the nation's trading partners are experiencing stable prices d. stable domestic prices while the nation's trading partners are experiencing 10 percent inflation
A corporation uses __________ as its Federal Tax ID number.
a. the owner's social security number b. an EIN number c. business operating license number d. none of these
Two goods are complements if:
A. an increase in the price of one good leads to a decrease in demand for the other. B. people tend to consume either one or the other. C. an increase in the price of one good leads to in increase in demand for the other. D. there are no substitutes for either of them.