Which of the Following Will Be Required for a Country

question 10

Multiple Choice

Which of the following will be required for a country to move up the income ladder and achieve high-income status?

• A) rapid growth of the money supply.
• B) restrictions limiting the import of goods from other nations, particularly low-wage countries.
• C) tax incentives that encourage consumption rather than investment
• D) sustained economic growth

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Definitions:

Marginal Cost

The expenditure required to produce one more unit of a product or service.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a particular price over a given period of time.

Marginal Revenue

The extra revenue gained by the sale of an additional unit of a product or service.

Total Revenue

The total amount of income generated by the sale of goods or services by a company.