Development Economist Jeffery Sachs Argues That Since 1820, the Gap

question 61

Multiple Choice

Development economist Jeffery Sachs argues that since 1820, the gap in GDP per capita between developing and developed countries has increased how many times?

• A) Two
• B) Five
• C) Ten
• D) Twenty
• E) Fifty

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Definitions:

Marginal Social Cost

The total cost to society of producing one additional unit of a good, including both private costs and externalities.

Equilibrium Price

The price at which the quantity of a product offered for sale equals the quantity of that product in demand.

Air Cargo

Goods being transported by aircraft, often for commercial purposes or rapid delivery.

Pollutants

Substances or objects that cause pollution, negatively affecting air, water, or soil quality.