Which of These Sets of Nations Consists of High-Income Economies

question 265

Multiple Choice

Which of these sets of nations consists of high-income economies?

• A) Brazil, Thailand, and South Africa
• B) China, India, and Russia
• C) Canada, Switzerland, and France
• D) United States, South Korea, and Mexico

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Definitions:

Equilibrium

A state of balance in a market or economy where supply equals demand, with no external influences causing disruption.

Market

Any structure that allows buyers and sellers to exchange any type of goods, services, and information.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive in the market.

Equilibrium

The state in which market supply and demand balance each other, and as a result, prices become stable.