Which of These Sets of Nations Are Considered High-Income Economies

question 57

Multiple Choice

Which of these sets of nations are considered high-income economies?

• A) Brazil,Thailand,and South Africa.
• B) China,India,and Russia.
• C) Canada,Switzerland,and France.
• D) United States,South Korea,and Mexico.

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Definitions:

Price

The total of money envisaged, necessitated, or expended as a payment for something.

Quantity Supplied

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

Resource Costs

The total expenses incurred in the production and acquisition of resources, including raw materials, labor, and capital.

Ceiling Price

The maximum price set by a government or regulatory body for essential goods, above which they cannot be sold to prevent exploitation.