A. what way have poor countries benefited from our economic growth. Spillovers They have not benefited;...
A. what way have poor countries benefited from our economic growth.
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Spillovers |
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They have not benefited; we exploit their resources. |
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Foreign Aid |
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Trade barriers |
B. Real GDP can increase by: (Not D)
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Greater production |
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Price Increases |
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Both A & B |
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Neither A & B |
Homework Answers
A. Spillovers
Explanation: Spillover takes place when economic growth in one country benefit other countries in the form of higher exports and other means. Poor countries often get benefitted in the form of spillovers when there is economic growth in rich countries.
B. Greater production
Explanation: Real GDP is not affected by changes in the price. Real GDP increases when there is an increase in the quantity of goods or services produced.
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