74. The "vicious circle of poverty" for developing nations can best be described by:A) Low levels of international trade that reduce exports and increase the dependence on importsB) Low incomes that inhibit saving and the accumulation of real and human capital, making it difficult to increase productivity and incomeC) A large government sector which reduces the availability of private investment spending but which increases macroeconomic stabilityD) A lack of entrepreneurial talent that limits the formation of businesses and the development of private businessesAnswer: BTopic: The Vicious CircleDifficulty: 3 HardLearning Objective: 08-03Bloom’s: Level 1 RememberAACSB: Analytic[QUESTION] 75. Many economists believe that the key to breaking the vicious circle of poverty is to:The Role of Government[QUESTION] 76. Most economists agree that government efforts in economic development must be:
[QUESTION] 77. Avenues for the government to foster economic growth and development include the following, except:[QUESTION] 78. Government can play a major positive role in the early stage of economic development by:A) Providing an adequate infrastructureB) Establishing price controls for productsC) Promoting exports by subsidizing themD) Creating marketing boards for export productsAnswer: ATopic: The Role of GovernmentDifficulty: 1 EasyLearning Objective: 08-04Bloom’s: Level 1 RememberAACSB: Analytic[QUESTION]
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