Social Security is an example of a(n)

The market-friendly approach to development emphasizes

a. self-interested behavior of public officials in LDCs. b. the dependence of LDCs on former colonial powers. c. the inherent efficiency of markets in developing countries. d. that markets in LDCs fail sometimes and selective interventions can promote economic development.

Figure 10-5

In Figure 10-5, which graph best illustrates the situation of an economy reacting to a recessionary gap by reducing resource cost levels?

a.
(1)

b.
(2)

c.
(3)

d.
(4)