Which of the Following Statements Accurately Describes the Less Developed

question 29

Multiple Choice

Which of the following statements accurately describes the less developed countries?

• A)high birthrate,large pre-reproductive portion of the population
• B)high birthrate,different age groups of equal size
• C)high growth rate,reproductive portion of the population is the largest
• D)low growth rate,different age groups of equal size
• E)high growth rate,different age groups of equal size

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Definitions:

Equilibrium Wage

The earnings rate at which the workforce offered balances the workforce demanded.

Binding

In economic terms, refers to a price floor or ceiling that is enforced and has an effect on the market, preventing it from reaching equilibrium.

Price Ceiling

A legally established maximum price for a good or service, aimed at preventing prices from rising too high.

Crude Oil

A natural petroleum product that's extracted from the earth, unrefined, and used as a primary feedstock for fuel and various chemical productions.