The historical record indicates that foreign aid has
a. played a major role in helping formerly poor countries grow rapidly and achieve high income levels.
b. re-enforced corrupt governments and policies that stifle productive activities.
c. helped poor countries escape counterproductive policies imposed by authoritarian political leaders.
d. promoted economic growth, but slowed the movement toward political democracy.
B
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The effect of a legal minimum wage set above the equilibrium wage rate is
A) an excess quantity of labor demanded. B) an excess quantity of labor supplied. C) an increase in the quantity of labor demanded. D) a decrease in quantity of labor supplied.
Ink jet printers are a normal good only if, as income falls by a certain percentage, the quantity demanded rises by an even greater percentage
a. True b. False