Which of the Following Are Characteristic of a Developing Country

question 70

Multiple Choice

Which of the following are characteristic of a developing country?

• A) extensive embrace of free trade policies
• B) low inflation
• C) high national savings
• D) a current account deficit and low national savings
• E) strong credit institutions

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Definitions:

Explicit Costs

Direct payments made to others in the course of running a business, such as wages, rent, and materials.

Total Revenues

The overall amount of money generated by a business from its sales or services before any costs or expenses are deducted.

Normal Rate

The standard or average rate at which something occurs, such as interest rates, inflation, or unemployment rates.

Accounting Profit

The net income of a business as calculated by subtracting total expenses from total revenues, according to standard accounting principles.