In the long run, expanding educational and training facilities, transportation and communication and other infrastructure in LDCs should increase ?

In the 1980s economists studying the source of growth observed no positive relationship between information and communications technology (ICT) investments and productivity This is known as ?

A. Solow residual

B. productivity paradox

C. technological followership

D. Stieglitz discrepancies

Market price adjusted to consider differences between social cost-benefit and private cost-benefit calculations are ?

A. price distortions

B. consumer surplus

C. shadow prices

D. exchange rates

An example of external diseconomies is ?

A. scholarship for technical education

B. R&D in robotics

C. a new drug to cure AIDS

D. environmental pollution

Vaccinating people for measles, rubella, polio and cholera to substantially increase net social benefits by improving the health and productivity of the population is an example of ?

A. economies of scale

B. external economies

C. negative externality

D. net present value

Which of the following is True is LDCs ?

A. Labor is often underemployed, having a low alternative cost

B. It is cheaper to hire labor in LDC because its productivity is relatively higher than in DCs

C. Adapting existing Western technology to LDC conditions requires little creativity

D. Labor is usually considered the scarce factor