An efficient economy would set the marginal product in the traditional sector
A) lower than that in the modern non-traditional sector.
B) higher than that in the modern sophisticated sector.
C) equal to that in the modern sophisticated sector.
D) lower in the relatively capital intensive sector.
E) higher in the relatively capital intensive sector.
C
Economics
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________ policies seek to promote rapid industrialization by erecting high barriers to foreign goods to encourage local production,
A) Comparative advantage B) Primary-export-led development C) Import-substitution development D) Outward-looking development
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Which of the following is most indicative of a recession?
a. a decline in unemployment b. a rise in inflation c. a decline in real GDP d. an increase in the interest rate
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