What is the distribution of the world's population between the developed nations and developing nations? What is the distribution of income between these two groups and their consumption as a percentage of world income?
What will be an ideal response?
While the developed nations account for only about one-quarter of the world's population, they are estimated to produce three-quarters of the world's output and earn three-quarters of the income. Developing countries have three-fourths of the world's people, but earn only one-fourth of the world's income.
You might also like to view...
A competitive market begins in a situation of long-run equilibrium. Then, there is an increase in demand. Describe the process that eventually leads to a new long-run equilibrium
The wage rate found by the intersection of the market demand and supply curves for labor then determines the
A. labor's supply curve of labor. B. firm's supply curve for labor. C. labor's demand curve for jobs. D. firm's demand curve for labor.