view picture 2. Economic growth and the developing worldWhich of the following are true about economic development? Check all that apply.Education has little or no impact on the process of economic development.Due to nationalism, the wealthy minority in developing countries rarely invest in foreign economies.Farmers stimulate economic development by employing the majority of workers in poor countries.A country doesn't need to be rich in natural resources in order to develop a modern economy.

Options C and D correctly describe the factors related to economic development. Option C is true…

Answered: 2. Economic growth and the developing…

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 6PA

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2. You are a manager at a large shampoo company and on the search for future markets. You identified two low income countries that look very dynamic: Country A has a GDP/capita growth rate of -1% and population growth rate of 9%. Country B has a GDP/capita growth rate of 7% and constant population. (a) Discuss which country you should focus on for your expansion. (b) Discuss if your answer would change if the products you are trying to sell are cars.
A. Differentiate between “economic growth” and “economic development B. Explain THREE (3) factors that contributed to the decline in GDP of some of the countries in the Caribbean region during 2020. C. Discuss THREE (3) strategies that may be used by Caribbean governments to achieve economic growth and development.
1. Why is an understanding of development crucial to policy formulation in developing nations? Do you think it is possible for a nation to agree on a rough definition of development and orient its strategies accordingly?
1. The objective of economic development is to raise the levels of living, it meansa. provide additional income, provision for more jobs and greater attention to cultural values.b. widen the distribution of food, shelter, health, and security.c. expand the range of economic and social choices. 2. Modernizing values of developed nations, many societies in developing countries suffer from serious cultural confusion when did come in contact with technologically advanced societies. What role and core values of Economic development?a. sustenanceb. self-esteemc. freedom from servtitude
_____ would most likely result in the economic growth of a nation. A. A decrease in the productivity of labor B. A decrease in the supply of labor due to emigration C. A decrease in the stock of physical capital D. An increase in the rate of growth of population E. An increase in the productivity of labor
Which one of the following statements is correct? a. Slower population growth rate than national income growth results to higher per capita income O b. Higher disposable income means more money available for consumption O c. All of these d. Higher labor productivity increases national income
3.a) Developing countries are usually described as followers, with respect to developed ones, in theaccumulation of technological knowledge. Describe which are the main channels throughwhich developing countries and their firms can accumulate and transfer technologicalknowledge and innovation capabilities from abroad.3.b) Describe the different forms of technological learning process companies inemerging/developing countries may benefit of by taking part to Global Value Chains (GVC) .
36. Which of the following will help to increase a countrys human development? a.A decrease in nominal GDP b.An increase in nominal GDP c.An increase in real GDP per capita d.A decrease in real GDP per capita
According to 2019 data, Japan will continue to be the most aged country in the world until 2050. Japan's workforce is estimated to drop by 13 million by 2040. How will the economy be impacted? a. The impacts on labor productivity will exceed the impacts on economic growth. b. The impacts on economic growth will exceed the impacts on labor productivity. c. The impacts on economic growth and labor productivity will be equal/comparable. d. Neither labor productivity nor economic growth will be impacted.
Distinguish between economic growth and economic development. How important is the accumulation of saving to a country’s economic growth?
Which of the following policies would economists consider to be actions that a DVC government might take that would improve growth prospects? Choose one or more answers from the choices shown. a. Helping to extend the banking system to the rural poor. b. Passing high tariffs against foreign products. c. Constructing better ports, roads, and Internet networks. d. Charging high fees for public elementary schools.
28) Empirical evidence from 1960 to 2010 shows that convergence in economic growth is occurring in which of the following cases? A) Low-income industrial countries are catching up to high-income industrial countries. B) Low-income developing countries are catching up to high-income industrial countries. C) Low-income industrial countries are catching up to high-income developing countries. D) All low-income countries are catching up to all high-income countries. 29) Which of the following countries actually experienced negative economic growth from 1960 to 2010? A) Israel B) Singapore C) Niger D) Malaysia 30) Which of the following accurately describes the impact of the rule of law on a country's economic growth rate? A) Countries with a strong rule of law have faster economic growth. B) Countries with a weak rule of law have faster economic growth. C) Countries that enforce property rights through lawsuits have slower economic growth. D)…

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