Export promotion is widely regarding by economists as a positive role for government policy makers to play because it is very effective at promoting economic growth
Indicate whether the statement is true or false
FALSE
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What is the growth in resources when total factor productivity grows by 3.5 percent and the economy grows by 2.7 percent?
a. 0.8% b. -2.7% c. 3.5% d. -0.8% e. 0.6%
What concept implies that a firm's marginal revenue product curve for labor will slope downward in the short run?
a. diminishing marginal returns b. the law of supply c. the law of decreasing cost d. the price equalization principle
As the terms of trade approach the domestic opportunity costs of a product, a country will experience:
A. Smaller gains from trade. B. Greater comparative advantage from trade. C. Greater absolute advantage from trade. D. Greater balance-of-trade surpluses.
A commercial bank holds $500,000 in demand deposit liabilities and $120,000 in reserves. If the required reserve ratio is 20 percent, which of the following is the maximum amount by which this single commercial bank and the maximum amount by which the banking system can increase loans?
a) amount created by single bank = $5,000 and amount created by banking system = $25,000 b) acsb=$20,000 and acbs=$80,000 c) acsb=$20,000 and acbs=$100,000 d) acsb=$0,000 and acbs=$150,000 e) acsb=$120,000 and acbs=$500,000