For Most Developing Countries, the Majority of Their Exports Consists

question 5

Multiple Choice

For most developing countries, the majority of their exports consists of

• A) capital-intensive agricultural products.
• B) capital intensive manufactured products.
• C) financial and legal services.
• D) primary products.

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Definitions:

Aggregate Expenditure Line

The aggregate expenditure line is a graphical representation in macroeconomics that shows all planned expenditures of an economy at different levels of income or GDP, indicating total spending on goods and services in an economy.

Aggregate Demand Curve

A graph that represents the total demand for all goods and services in an economy at various price levels.

Aggregate Expenditure

Aggregate expenditure is the total amount spent on goods and services in an economy at a given overall price level and in a given time period.

Current Production

The total value of all goods and services produced within a given period by an economy.