Relying on piecemeal development projects or one-project-at-a-time investments may not propel an LDC out of poverty because
a. the World Bank only approves of the unbalanced growth development strategy and would finance no other strategy
b. the World Bank only approves of the big-push development strategy and would finance no other strategy
c. they do not include foreign investment or aid
d. they lack forward linkages
e. of the absence of an infrastructure
E
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During the postbellum period of U.S. history,
(a) the U.S. balance of payments experienced a deficit throughout the entire period. (b) manufacturing exports became the top foreign exchange earner. (c) cotton exports continued to be the top foreign exchange earner. (d) the U.S. never borrowed from foreigners.
Which of the following statements about taxes and government spending is correct?
A. Despite the overall progressive tax system, government expenditures disproportionately favor the rich and result in a system that is slightly regressive. B. The progressive tax system is almost perfectly offset by regressive expenditures, making the overall system proportional. C. The regressive tax system is offset by expenditures directed toward lower-income households, making the overall system proportional. D. The overall system of taxes and spending is progressive, as over $1 trillion per year gets transferred from upper-income households to lower- and middle-income households.