Which Reason Is One That Can Explain Latin America's Lack

question 96

Multiple Choice

Which reason is one that can explain Latin America's lack of economic growth since 1920?

• A) overspending on education
• B) inability to compete with imported products
• C) low savings and investment spending because government policies led to inflation, bank failures, and other disruptions
• D) very poor natural resources

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Definitions:

Input Prices

The cost of resources used in the production of goods or services, including raw materials, labor, and overheads.

Technological Change

Refers to the improvement or innovation in technology, affecting how goods or services are produced or delivered.

Number Of Suppliers

The total count of entities or individuals providing a specific good or service in a market.

Normal Good

A good for which demand increases as the income of the individual or economy increases, and decreases when the income decreases.