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Hatshy [7]
2 years ago
11

A country has an annual income per capita of $2,300. The country’s nominal economic growth rate is 1.5% while 37.7% of its popul

ation lives below the poverty line, and its literacy rate is 48% of the population. In addition, 54% of its labor force is in agriculture and 11% works in the business or the technology sectors. Based on the details of this country's economic growth, how would you classify this country?
Business
1 answer:
Novay_Z [31]2 years ago
7 0

Answer: Less - Developed Country

Explanation:

Less - Developed Countries (LDCs) are countries that are usually classified as 3rd world countries. They are characterised by low annual income.per capita and living standards as well as high poverty rates.

Their main industry is usually Agriculture and there are low literacy rates plaguing the country.

The Country described above is a less developed country. It has an annual income per capita of $2,300 which is quite small when compared with that of a Developed country like Liechtenstein with $165,000 annual income per capita.

Most of it's population engage in Agriculture as shown by the 54% ascribed to Agriculture and it has a literacy rate of 48% which is quite low.

All these as well as the 37.7% statistic showing how many people are in poverty confirms that this a Less Developed Country.

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Eddie, a 16 year old minor, buys a car from Ace Auto and then damages the car in an accident. To disaffirm the contract and sati
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Answer: Return the car and pay for the damage(D)

Explanation:

To disaffirm a contract means to avoid the obligations in a contract. A contract can be disaffirmed by a minor when he shows an intent that he or she isn't bound by it. Contracts can be disaffirmed by minors before they reach eighteen years. When a minor disaffirms a contract, all properties transferred to the minor can be gotten back.

In the scenario explained in the question, even though Eddie had damaged the car, he can disaffirm the contract and satisfy his duty if restitution by returning the car and paying for damage.

3 0
2 years ago
Read 2 more answers
The long run aggregates supply curve is?vertical at the full employment level of real gdp. 2) horizontal at the full employment
Gennadij [26K]

A curve that indicates the connection between the charge level and real GDP that might be supplied if all costs, such as nominal wages, had been fully flexible; price can alternate alongside the LRAS, but the output cannot due to the fact that output displays the whole employment output.

The long-run aggregate supply curve is vertical because it's miles the amount that might be produced as soon as costs are fully capable of modify. The LRAS curve illustrates the natural rate of output (Yn)- the amount of output the economy produces while unemployment is at its natural fee.

The long-run mixture delivers curve is a vertical line on the ability degree of output. The intersection of the economic system's combination demand and lengthy-run combination supply curves determines its equilibrium real GDP and price level ultimately.

Learn more about GDP here: brainly.com/question/1383956

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4 0
1 year ago
Which of the following statements about oligopolies is not correct? a. An oligopolistic market has only a few sellers. b. The ac
Finger [1]

Answer:

d. Unlike monopolies and monopolistically competitive markets, oligopolies prices do not exceed their marginal revenues.

Explanation:

An oligopoly can be defined as a market formation where in a given sector of the economy there are only a small number of competing companies offering a product or service. Its structure is formed by imperfect competition (between monopoly and perfect competition).

The difference between monopoly and oligopoly is that the number of companies that the market has will set the price of products in an oligopoly market, whereas in the monopoly only one company dominates the market and therefore that company determines the price of the good, as it is a market without competition. Therefore, alternative D is the incorrect one.

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A liability created when a business collects cash from customers in advance of providing services or delivering goods is called?
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<span> <span>The liability created by receiving cash before providing the service or delivering the goods in question is called unearned revenue. In this case, the entity providing the goods/services records this transaction as revenue that has been generated but in real sense, the seller remains with the liability until after the actual delivery of the goods/services. The purpose of this practice can be advantageous to the seller in certain situations such as easing the burden of paying interest on debts.</span></span>
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