According to the text, as compared to rich countries, most of the poor countries do not fare well because:
a. they have no oil.
b. the people in these countries have limited property rights.
c. access to education in these countries is very limited.
d. high tariffs in these countries prevent international trade.
e. they do not have any natural resources.
b
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According to the new growth theory, ________ is the factor that motivates technological change
A) diminishing returns B) random chance C) decisions about how much human capital to acquire D) profit E) the replication of activities
Which of these is true of the mercantilism policy? a. It accepts gold as a medium of exchange
b. It encourages free movement of labor and capital resources between nations. c. It emphasizes government control over the production of important goods and services. d. It emphasizes the importance of trade restrictions in achieving economic growth. e. It believes that a nation's economic vitality depends on its unemployment level.