The difference, in terms of economic goals, between developing countries and developed countries is that:
A. developing countries focus primarily on achieving an equitable distribution of income, while developed countries focus on higher economic growth rates.
B. there are no differences between the economic goals of developing and developed countries.
C. developing countries focus primarily on achieving economic stability, while developed countries focus on an acceptable growth rate.
D. developing countries focus primarily on meeting basic needs, while developed countries focus on economic stability.
Answer: D
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The income distribution in less-developed nations tends to be
a. more uneven than in developed economies b. less uneven than in developed economies c. similar to that in developed economies d. impossible to calculate e. not comparable because tax structures differ among countries
"In the long run, a perfectly competitive firm's average total cost is always below the market clearing price." Agree or disagree? Why?
What will be an ideal response?