Why have many developing countries pursued industry at the expense of agriculture? What has been the result of this strategy?
What will be an ideal response?
Because developed economies are characterized by a large share of output and employment in the industrial sector, many developing countries seem to believe that development and industrialization are synonymous. In many cases,
developing countries have pursued industry at the expense of agriculture, with mixed results. Recent evidence suggests that some balance between industry and agriculture leads to the best outcome.
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The marginal revenue curve for a single-price monopoly
A) is horizontal. B) is upward sloping. C) lies above the market demand curve. D) lies below the market demand curve.
The interest-rate effect
a. depends on the idea that increases in interest rates increase the quantity of money demanded. b. depends on the idea that increases in interest rates increase the quantity of money supplied. c. is the most important reason, in the case of the United States, for the downward slope of the aggregate-demand curve. d. is the least important reason, in the case of the United States, for the downward slope of the aggregate-demand curve.