To be classified as a low-income developing country, annual per capita income in 2010 needed to be:
A. $1,005 or less.
B. $580 or less.
C. $3,723 or less.
D. $925 or less.
A. $1,005 or less.
Economics
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Consider the above table. Assuming the government imposes a price floor on garbanzo beans of $8, what would be the likely result?
A) a surplus of 2000 garbanzo beans B) a shortage of 2000 garbanzo beans C) No change, equilibrium would prevail. D) The quantity demanded of garbanzo beans would fall to zero.
Economics
Which economist introduced the simple trade model and the concept of trade based on comparative advantage?
What will be an ideal response?
Economics