The "vicious circle of poverty" for developing nations can best be described by:
A. Low levels of international trade that reduce exports and increase the dependence on imports
B. Low incomes that inhibit saving and the accumulation of real and human capital, making it difficult to increase productivity and income
C. A large government sector which reduces the availability of private investment spending but which increases macroeconomic stability
D. A lack of entrepreneurial talent that limits the formation of businesses and the development of private businesses
B. Low incomes that inhibit saving and the accumulation of real and human capital, making it difficult to increase productivity and income
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Early in the 20th century the American Medical Association strongly encouraged _____
a. HMOs b. Medicare c. Medicaid d. fee-for-service medical care
Because of unseasonably cold weather, the supply of oranges has substantially decreased. This statement indicates the:
A. demand for oranges will necessarily rise. B. equilibrium quantity of oranges will rise. C. amount of oranges that will be available at various prices has declined. D. price of oranges will fall.