In what way(s) do the development paths chosen by Pakistan and Bangladesh differ? What are the main factors that have contributed to these differing paths?
What will be an ideal response?
The key differences are the aspects of economic development discussed in the chapter. The case study at the end of the chapter provides comparative figures for the two countries and the main factors contributing to the divergent paths.
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Michelle Martelle, CEO of Michelle Enterprises, has five projects in hand and is considering which, if any, to undertake. Their expected returns are: project A = 12 percent, project B = 7 percent, project C = 10 percent, project D = 9 percent, and project E = 8 percent. If the interest rate is 8.5 percent, which, if any, investment projects will she accept?
a. Only project A. b. Projects A and C. c. Projects A, C and D. d. Projects A, C, D and E. e. Projects A, B, C, D and E.
The backward-bending labor supply curve includes each of these variables except
A. the income effect. B. the substitution effect. C. the savings effect.