Why is it that today it is more difficult to categorize countries into the three neat groups like the one that were used in the 1960s
What will be an ideal response?
Rapid economic progress brought some developing nations closer to developed economies. Countries such as Argentina and Chile, still considered to be "developing," are often referred to as middle-income or newly
industrialized countries. Other countries, such as those in much of sub-Saharan Africa and some in South Asia, have stagnated and fallen so far behind the economic advances of the rest of the world that the term Fourth World has been used to describe them. China and India, while usually labeled developing countries, are fast becoming economic superpowers.
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Reduction or elimination of dividend taxes is designed, in part, to
A) reduce the double taxation burden on individuals. B) make rich people richer. C) reduce inefficiencies in the production process. D) increase corporate tax levels.
Carolina Baby Inc produces and sells dresses for kids in a perfectly competitive market. Which of the following will be the firm's profit-maximizing outcome?
a. The firm earns a marginal revenue of $20 if it produces 600 dresses at a marginal cost of $15. b. The firm earns a marginal revenue of $20 if it produces 700 dresses at a marginal cost of $20. c. The firm earns a marginal revenue of $20 if it produces 800 dresses at a marginal cost of $24. d. The firm earns a marginal revenue of $20 if it produces 900 dresses at a marginal cost of $27.