The Vicious Circle of Poverty in the Poorest DVCs Can

question 46

Multiple Choice

The vicious circle of poverty in the poorest DVCs can also be expressed as,

• A) "The rich get richer, while the poor get poorer."
• B) "Fate dealt the poor nations a bad hand."
• C) "The poor nations stay poor because they are poor."
• D) "Historical developments have oppressed the poor nations' incomes."

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Definitions:

Average Variable Cost

The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.

Output

The quantity of goods or services produced in a given time period by a firm, industry, or country.

Total Variable Cost

The sum of all costs that vary with output level, including expenses such as labor and raw materials, but not fixed costs like rent.

Output

The total amount of goods or services produced by an individual, firm, or country.