Most less-developed countries are characterized by
a. inadequate manpower
b. a high proportion of the population under the age of 15
c. unfertile and uncultivable land
d. an extensive infrastructure
e. low total productivity but high per capita productivity
B
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Combining the home money market and the uncovered interest parity relationship, we can see how changes in variables determine:
a. real GDP. b. the exchange rate. c. the price level. d. the quantity of money.
The basic difference between a public bureau and a market firm is that the bureau
a. has an incentive to maximize profits b. has no incentive to minimize costs c. managers do not attempt to maximize their self interest d. managers are more likely to be concerned with the public interest than their own self interest e. faces a budget constraint placed up it by the voters