Which of the following statements is true?
a. A less developed country (LDC) is a country with a low GDP per capita, low levels of capital, and uneducated workers.
b. The vicious circle of poverty exists because GDP must rise before people can save and invest.
c. LDCs are characterized by rapid population growth and low levels of investment in human capital.
d. All of these.
b
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When a depository institution pools risk, it
A) buys short and lends long. B) borrows reserves from the Federal Reserve. C) spreads loan losses across many depositors so that no one depositor faces a high degree of risk. D) makes loans to just one firm.
The above table gives data on two variables. If these data were graphed, their relationship would
A) be a straight line. B) be a curved line. C) show a negative relationship. D) nonexistent.