The unbalanced development strategy relies on
a. the government broadening its time horizon
b. economic dualism, that is, government and the private sector
c. the balancing effect of foreign aid and investment
d. investments creating new supply capacities, which create new demands, which stimulates investments in new supply capacities
e. incentives created by income disparity
D
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Full employment is defined by the Council of Economic Advisers as
A) 4 percent. B) every adult who wants to work has a job. C) the unemployment rate associated with zero inflation. D) the unemployment rate associated with the normal frictions in the labor market.
Preferential trade agreements have a beneficial trade-diversion effect when they reduce prices for traded goods and stimulate the volume of international trade
a. True b. False Indicate whether the statement is true or false