ECON MICRO (with MindTap, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
6th Edition
ISBN: 9781337408059
Author: William A. McEachern
Publisher: Cengage Learning
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Question
Chapter 21, Problem 5P
To determine
The issues faced when foreign aid is used as a measure to lead to a more productive economy to result in economic development.
Concept Introduction:
Tied Aid − It is the aid given with some conditions attached.
Untied Aid − It refers to the aid given without any conditions.
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Enumeration:
There are 5 categories that Johnston and Mellor identified in 1961 as contributions of
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happened. (1 or 2 sentences)
1 Farm products for domestic consumption
2 The export of farm products and earnings of foreign exchange
3 The transfer of manpower to the industrial sector
4 The flow of money into capital formation
5 The increased incomes in agriculture as a market for industrial products
Question - 1
A) how are rules and governance important to economic Development and growth?
B) how can international aid assist countries with economic development? Can international aid also cause problems?
C) what can be done to Assist development countries?
4. Consider the following information about a developing country:
Income per capita
$1037
Life expectancy
43 years
Adult literacy
53%
Gross enrollment
46%
(a) Income index =
(b) Life Expectancy index =
(c) Education index =
Chapter 21 Solutions
ECON MICRO (with MindTap, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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- Consider Table 1 above. Which country has a greater standard of living? A) Uruguay B) Paraguay C) Uruguay and Paraguay have equal standards of living. D) Impossible to sayarrow_forwardDue today.arrow_forward[item no.17] (Yes/No) Is it possible for one to be a global citizen without recognizing globalization or understanding the wider world? NoYesarrow_forward
- Country Namibia South Africa Botswana Zambia Brazil Per Capita Income (2017) $10,380 12,870 15,510 3,810 15,140 13,430 16,860 1,760 14,320 55,980 41,680 34,700 41,280 48,700 Percentage of Total Income Received by Highest Decile Honduras Mexico Haiti China United States France Spain Great Britain. Sweden Source: World Development Indicators, World Bank, 2018. $ 23,316 b. less than 30 percent of total income? 27 26 25 23 31 31 31 40 37 35 44 52 51 50 Using the figure, what is the average per capita income in nations shown in the figure where the highest-income decile gets: Instructions: Enter your responses as a whole number. a. at least half of total income?arrow_forward7- Developing countries all over the world are concerned about how to improve their National Income and Per capita Income. Which central economic problem is this related to? a. How to produce the goods and services? b. What goods and services to be produced? c. How to achieve economic growth? d. For whom to produce?arrow_forward[item no.27] (Multiple Choice) Most of the problems and issues mentioned in the sustainable development goals are collective dilemmas. Yes, especially environmental problems because it requires a solution that involves international cooperation rather than action by a single stateNo, states can give solutions even done alone.arrow_forward
- 28. Country A has a GDP-per-capita of $500, and Country B has a GDP-per-capita of $75,000. Which of the following is NOT a plausible reason for Country B's higher GDP-per-capita? (A) Country B has more open and inclusive economic and political institutions. (B) Country B has more natural resource wealth. (C) Country B has lower productivity. (D) Country B has more capital. 29. After lockdowns were declared globally in 2020, the price of oil crashed from $64 per barrel in January to $18 per barrel in April. What is the most likely reason that lockdowns contributed to the oil price crash? (A) Supply increased due to oil companies reallocating resources to help with the COVID-19 pandemic. (B) Supply decreased due to oil workers being furloughed. (C) Demand increased from factories producing Personal Protective Equipment for essential workers. (D) Demand decreased since fewer people were commuting to work. 30. Suppose that the GDP deflator is 150, and nominal GDP is $7.5 billion. What is…arrow_forward1 There are positive and negative consequences to using real GDP per capita in an analysis. List one positive benefit. List one negative consequence. What is a better alternative to use to measure how much a typical person makes in a country?arrow_forwardCase: Suppose you are watching a news report with a friend. The news report points out that a certain African nation generates a GDP per capita of only $1300 per year. Since your friend knows that Slovenia’s GDP per capita is approximately $26 000, he suggests that Slovenians are materially 20 times better off than the people of the African nation. Is your friend’s statement accurate?arrow_forward
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