Which of the following is a reason for the failure of development plans?
(a) unreliable data.
(b) unanticipated economic disturbances.
(c) lack of political will.
(d) all of the above.
(e) none of the above.
D
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A recessionary gap occurs when
A) aggregate demand falls, but other things remain constant. B) the short-run equilibrium level of real GDP is less than the level consistent with the long-run aggregate supply curve. C) the short-run equilibrium level of real GDP is greater than the level consistent with the long-run aggregate supply curve. D) short-run aggregate supply falls, but other things remain constant.
In a market economy, those who are willing and able to buy what is produced
A) receive the most of what is produced. B) receive no more than everyone else in the market. C) solely determine what is produced. D) receive what the government allows them to receive.