Choose the One Alternative That Best Completes the Statement or Answers

question 159

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
Simplify.
- $\left( \frac { 4 } { 5 } \right) ^ { - 3 }$

• A) \(\frac { 1 } { 2 }\)
• B) \(\frac { 125 } { 64 }\)
• C) \(- \frac { 12 } { 5 }\)
• D) \(- \frac { 64 } { 125 }\)

Appreciate the potential of microcredit programs in enhancing the economic empowerment of the poor in DVCs.

Know the characteristics and differing income levels between IACs and DVCs, and the implications for economic policy and development.

Understand the economic classification of countries into various income levels and their respective characteristics.

Recognize the characteristics and challenges of low-income developing countries.

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Definitions:

Long-run Equilibrium

A state in which all factors of production and inputs can be varied, allowing for full adjustment by firms and the economy, and no excess demand or supply exists.

Decline in Demand

A decrease in the willingness and ability of consumers to buy goods and services at existing prices, which can lead to lower market prices.

Constant-cost Industry

An industry in which the costs of production, including inputs and labor, do not change as the overall industry output changes.

Resource Prices

The cost associated with acquiring the natural resources needed for production, such as minerals, timber, water, and land.