Economists would most likely suggest that advanced nations can best assist in the economic development of developing nations by:
A. Increasing the amount of military aid to strengthen the government's role in providing law and order
B. Increasing trade barriers so that less developed nations will become more self-sufficient
C. Reducing trade barriers and increasing the amount of private and public capital
D. Decreasing the amounts of private capital or foreign aid to reduce the level of neocolonialism
C. Reducing trade barriers and increasing the amount of private and public capital
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Will consumption taxes lead to more savings? Why or why not?
What will be an ideal response?
The process of making the best of our limited resources by doing the things we are best at and hiring other people to do the things we are not particularly good at is called
A) absolute advantage. B) comparative advantage. C) specialization. D) protectionism.