Many unsuccessful, low performing LDCs have all of the following characteristics except
a. political instability
b. reliance on custom and traditions
c. absence of infrastructure
d. high population growth
e. acceptance of new technology
E
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Spending on the war in Afghanistan is essentially categorized as government purchases. How do decreases in spending on the war in Afghanistan affect the aggregate demand curve?
A) They will shift the aggregate demand curve to the right. B) They will shift the aggregate demand curve to the left. C) They will move the economy up along a stationary aggregate demand curve. D) They will move the economy down along a stationary aggregate demand curve.
Which economic concept is illustrated by the saying "You can't have your cake and eat it too"?
a. Private property rights b. Economic freedom c. Scarcity d. Opportunity cost e. Gains from trade