It has been said that "underdevelopment is a state of mind." Comment
What will be an ideal response?
You may look for a discussion of the role of modern values in the development process,
as on Pages 12–14 of the text.
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The marginal revenue for a single-price monopoly with a downward-sloping demand curve
A) is less than the price. B) is greater than the price. C) is equal to the price. D) might be more than, less than, or equal to the price, depending on whether the slope of the demand curve exceeds 1.0 in magnitude. E) might be more than, less than, or equal to the price, depending on whether the price elasticity of demand exceeds 1.0 in magnitude.
Which of the following would most likely cause a nation's currency to depreciate?
a. an increase in domestic real interest rates b. an increase in exports coupled with a decline in imports c. an increase in the nation's inflation rate d. a balance of trade surplus