During 1980-2010, the per-capita incomes of less-developed countries (LDCs)
a. grew rapidly.
b. declined.
c. were virtually unchanged.
d. registered a mixed growth record; some grew rapidly while others stagnated.
D
Economics
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The market-demand curve for a product in a perfectly competitive market:
a. is horizontal. b. is downward sloping. c. is vertical. d. has elasticity equal to 1. e. is positively sloped.
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Incentive problems in contractual relationships generate
A. costs that decrease value. B. costs that increase value. C. revenues that increase value. D. revenues that decrease value.
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