Multiple Choice
During times of economic trouble, which of the following actions is most likely to be taken by a government following Keynesian economic principles?
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1. Introduction to Macroeconomics
Introduction to Economics
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Which of the following best describes a common serious economic problem faced by developing nations?
A
High levels of unemployment and underemployment
B
Rapid technological advancement
C
Excessive budget surpluses
D
Low rates of population growth
Verified step by step guidance1
Step 1: Understand the context of developing nations by recalling common economic challenges they face, such as limited industrialization, infrastructure issues, and labor market conditions.
Step 2: Analyze each option in relation to typical economic problems in developing countries: Rapid technological advancement is usually less common, excessive budget surpluses are rare, and low rates of population growth are not typical.
Step 3: Recognize that high levels of unemployment and underemployment are widespread issues in developing nations due to factors like insufficient job creation and informal labor markets.
Step 4: Conclude that among the options, 'High levels of unemployment and underemployment' best describes a serious economic problem faced by developing nations.
Step 5: Remember that this problem affects economic growth and social stability, making it a key focus for development policies.
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