Developing nations
a. often lack the natural resources, skilled labor, or capital to improve their standards of living.
b. typically do not need outside help.
c. generally experience productivity increases greater than their population growth rates.
d. should not accept long-term aid in the form of technical assistance and capital.
a. often lack the natural resources, skilled labor, or capital to improve their standards of living.
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A price floor is
A) the highest possible legal price that can be charged for a good or service. B) usually equal to the equilibrium price established before the government imposed the price floor. C) the lowest legal price at which a good or service can be traded. D) a legal price of zero that can be charged for a good or service. E) almost always equal to the price ceiling.
Refer to the scenario above. What is the probability of picking a red ball from the box?
A) 24.65% B) 45% C) 50% D) 64%