In the open-economy macroeconomic model, if the supply of loanable funds shifts left
a. the interest rate rises and the supply of dollars in the market for foreign currency exchange shifts right.
b. the interest rate rises and the supply of dollars in the market for foreign currency exchange shifts left.
c. the interest rate falls and the demand for dollars in the market for foreign currency exchange shifts right.
d. the interest rate falls and the demand for dollars in the market for foreign currency exchange shifts left.
b
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If, between 2006 and 2016, the economy's real GDP grew from $20 billion to $40 billion, what was the average annual growth rate in the economy?
A) 3% B) 7% C) 20% D) 100%
The slope of the consumption function is also known as
a. the consumption ratio b. the average propensity to consume c. autonomous consumption spending d. the marginal propensity to consume e. multiplying propensity to consume
Which of the following lowers the incentive for a firm to invest in research and development?
a. The potential for resulting innovations to be copied b. The inability of a firm to balance private and social benefits c. The high cost of investing in human capital d. The lack of legal protection for innovations and inventions
Which of the following would be classified as an innovation?
a. Edwin H. Land perfects the single-step photographic process in 1947. b. Polaroid markets the single-step film in 1948. c. Thomas Alva Edison perfects the incandescent lamp with carbon filament in 1879. d. In 1803, Robert Fulton constructs his first small steamboat in Paris.