All of the Following Are Factors That Raise Economic Development

question 79

Multiple Choice

All of the following are factors that raise economic development EXCEPT

• A) establishing a legal system.
• B) an educated work force.
• C) reducing trade barriers.
• D) government control of the country's resources.

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Definitions:

Bounded Variable

A variable that has upper and lower limits.

Shadow Price

A monetary value assigned to currently unpriced goods or services, reflecting their worth in terms of opportunity cost or their valuation in a constrained optimization problem.

Reduced Cost

In optimization, it's the difference between the cost of a non-basic variable and its contribution to the objective function, used in linear programming.

Linear Optimization Problems

Mathematical problems concerned with finding the best solution from a set of linear relationships, subject to certain constraints.