Describe some of the benefits and costs associated with the emergence of large cities in developing countries
What will be an ideal response?
Benefits include the ability to learn from others that are located in close proximity, a reduction in transportation costs, and a large availability of skilled labor. Costs include congestion and pollution.
Economics
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A banking system that provides people immediate access to their deposits, but that allows banks to hold only a portion of those deposits on reserve, is known as:
a. an excess reserve system. b. a fractional reserve system. c. the Fed. d. the FDIC. e. an asset-based system.
Economics
If real GDP per capita is increasing, real output is:
a. growing less rapidly than the population. b. growing more rapidly than the population. c. growing at the same rate as the population. d. growing more rapidly than are prices.
Economics