The Impact of Foreign Aid on Developing Countries Has Been

question 62

Multiple Choice

The impact of foreign aid on developing countries has been reduced by ________.

• A)the low rate of saving in these countries
• B)the Marshall Plan
• C)the misuse of foreign aid funds by corrupt governments
• D)the low rate of consumption in these countries

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Definitions:

ATC Curve

A graph that shows the average total cost of producing different quantities of a good or service, calculated by dividing the total cost by the quantity produced.

Positive Economic Profit

The excess amount by which total revenue surpasses the total costs, including opportunity costs of production.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information.

ATC

Average Total Cost, which is the total cost per unit of output produced, calculated by dividing the total cost by the quantity of output.