Wheelan lists the conditions necessary for economic development. Which of the below is NOT a NECESSARY condition for economi development? Group of answer choices Responsible fiscal and monetary policy. Possession of large amounts of natural resources. Well-developed and plenty of human capital.

Wheelan lists the conditions necessary for economic development. Which of the below is NOT a NECESSARY condition for economi development? Group of answer choices Responsible fiscal and monetary policy. Possession of large amounts of natural resources. Well-developed and plenty of human capital.

Macroeconomics

13th Edition

ISBN:9781337617390

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter20: Building Theories To Explain Everyday Life: From Observations To Questions To Theories To Predictions

Section: Chapter Questions

Problem 14QP

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Question

This is not a writing assignment, this is a multiple-choice question

Wheelan discusses why some economies are rich (or have been able to come out of poverty) while others are still poor.

Question:

Wheelan lists the conditions necessary for economic development. Which of the below is NOT a NECESSARY condition for economi development?

Group of answer choices

Responsible fiscal and monetary policy.

Possession of large amounts of natural resources.

Well-developed and plenty of human capital.

Definition Definition Policy implemented by the central bank of a country (such as the Federal Reserve in the United States) to achieve certain macroeconomic objectives. Monetary policy is a supply-side macroeconomic policy that supervises the growth rate and money supply in the economy.

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