Which is one of the main reasons for Low-income countries to continue to have a poor standard of living?

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Macroeconomics

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Policies and events affecting an open economy

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Darryn D'SouzaLv10

21 Oct 2020

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8. Why are the poor countries of the world poor? One of the reasons can be:

a. trade policies of low-income countries

b. trade policies of high-income countries

1. More people in high-income countries than in low-income countries tend to believe that rapid rates of economic growth are not desirable.

Some people in ______-income countries are ______ with certain consequences of rapid economic growth, such as higher standard of living.

-in low-income countries -are concerned with

-in high-income countries -are satisfied with

2. Which of the following best explains what is actually happening to real per capita GDPs of countries?

a. Lower-income countries have not caught up to higher-income countries at all.

b. Lower-income industrial countries are catching up with higher-income industrial countries.

c. Most countries now have similar real per capita GDP levels.

d. Poor countries are generally catching up with rich countries.

1.Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are interconnected.
2.What are the arguments for using real per capita GNI to compare living standards between countries? What weakness does this measure have?

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Which is one of the main reasons for Low-income countries to continue to have a poor standard of living?

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