According to the theory of structural patterns of development, which of the following tends to occur as a country develops?
a. a shift from agriculture to industry and services
b. an increase in the percentage of income spent on food
c. growth of the rural sector
d. a decline in trade as a share of GNP
A
You might also like to view...
Which of the following purchases would be counted as a final good in the GDP calculation?
a. A family's purchase of a used car. b. A speculator's purchase of 100 shares of Apple Computer stock. c. A deli's purchase of bread for making its sandwiches. d. A business's purchase of new office equipment.
In an economic model, assumptions
A. are not important in determining the usefulness of the model. B. must be applicable to all real-world situations. C. must be eliminated before being used to make sure the model is realistic. D. define the set of circumstances in which the model is most likely to be applicable in the real world.