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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Chapter 21, Problem 6P
To determine
To discuss:
The consequence of foreign aid by rich countries to the poorer countries.
Concept Introduction:
The assistance or aid provided by a country to another is generally known as foreign aid. The assistance might be financial, military or labor-oriented with little or no benefit expected.
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Chapter 21 Solutions
ECON MICRO (with MindTap, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)
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- A new accountant works on the Balance of Payments of a country and records the following into the financial account.Which is the only one recorded correctly? Select one: a. Transfer of ownership of assets b. External assets c. Trade in goods d. Imports of services e. Incomes paid to people working in a country temporarilyarrow_forwardWhat term describes the total value of all goods and services produced within a country's borders over a specific time period? A. Gross Domestic Product (GDP) B. Net Export C. Consumer Price Index (CPI) D. Purchasing Power Parity (PPP)arrow_forwardAccording to the 2018 Foreign Aid table below: Percentage of Donor Total Income Country Total Aid ($ billions) Ints United States $34 0.17% United Kingdom 19 0.70 Germany 25 0.61 France 12 0.43 Japan 14 0.28 Sweden 6 1.04 Canada 0.28 Italy 5 0.19 Australia 3 0.23 24-Nation Total $153 0.31% Source: OECD (2018 data). Instructions: Enter your responses as a whole number. a. How much foreign aid did the United States provide in 2018? 24 34 billion b. How much more aid is required to satisfy the UN's Millennium Aid Goal if U.S. GDP was $20 trillion? (Hint The UN's Millennium Aid Goal is to raise foreign aid levels to 0.7 percent of donor-country GDP.) 24 20 billionarrow_forward
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