If a country's income is rapidly increasing it must:
A. have a high level of growth.
B. have a high level of income.
C. have a lot of room to expand.
D. be well-endowed with natural resources.
A. have a high level of growth.
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RBC theory leads to ________ government macro-stabilization policy, due to the theory's assumption of ________
A) a rationale for, slow wage and price adjustment B) a rationale for, continuous market-clearing C) a rejection of, slow wage and price adjustment D) a rejection of, continuous market-clearing
As of 2011, which of the following was the largest stock exchange in terms of total value traded?
A) the New York Stock Exchange B) London Stock Exchange C) Shanghai Stock Exchange D) Tokyo Stock Exchange
Some economists conduct empirical research on the theory of the firm by measuring the degree of technical efficiency achieved by actual firms. What type of research contributions are provided by these studies?
A) Normative B) Positive C) Administrative D) Executive
Firms will only adopt more automated methods of production when
a. they reduce the need for workers. b. they lower production costs. c. they lengthen the production process. d. other firms in the industry are doing it.