Questions from General Economics


Q: “The schools are not in the business of pleasing parents and

“The schools are not in the business of pleasing parents and students, and they cannot be allowed to set their own agendas. Their agendas are set by politicians, administrators, and...

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Q: Karl Marx believed the market system was doomed. Why do you

Karl Marx believed the market system was doomed. Why do you think he was right or wrong?

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Q: Suppose you are a factory manager. Describe how you might reach

Suppose you are a factory manager. Describe how you might reach production goals under a system of pure capitalism and under a system of pure socialism.

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Q: The present choice between investing in capital goods and producing consumer goods

The present choice between investing in capital goods and producing consumer goods now affects the ability of an economy to produce in the future. Explain.

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Q: What are some of the problems for LDCs of accepting foreign aid

What are some of the problems for LDCs of accepting foreign aid?

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Q: Explain the differences among the Agency for International Development (AID),

Explain the differences among the Agency for International Development (AID), the World Bank, and the International Monetary Fund (IMF).

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Q: Explain why GDP per capita comparisons among nations are not a perfect

Explain why GDP per capita comparisons among nations are not a perfect measure of differences in economic well-being.

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Q: What is the difference between economic development and economic growth? Give

What is the difference between economic development and economic growth? Give examples of how each of these concepts can be measured.

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Q: Explain why it is so difficult for poor LDCs to generate investment

Explain why it is so difficult for poor LDCs to generate investment in capital in order to increase productivity and growth and, therefore, improve their standard of living.

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Q: Indicate whether each of the following is associated with a high or

Indicate whether each of the following is associated with a high or low level of economic growth and development:

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