Economic growth depends on many factors including adherence to the rule of _____.
a. saving
b. perpetuity
c. law
d. citizenship
c. law
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Individuals will increase their saving as
A) the interest rate falls. B) the interest rate increases. C) the rate of unemployment increases. D) business investment falls.
A natural monopoly occurs when
a. the product is sold in its natural state, such as water or diamonds. b. there are economies of scale over the relevant range of output. c. the firm is characterized by a rising marginal cost curve. d. production requires the use of free natural resources, such as water or air.
Monetary policy operations for central banks are run through changes in the liability category of:
A. currency. B. government's accounts. C. gold. D. reserves.
A price floor in a competitive market will result in persistent shortages of a product.
Answer the following statement true (T) or false (F)