On the Micronesian island of Yap, it is easier to make purchases with stone wheel currency than it is to make purchases with paper currency including the U.S. dollar
a. True
b. False
Indicate whether the statement is true or false
True
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The total market value of all final goods and services produced by resources owned by a country, regardless of where production takes place is
A. national income. B. gross domestic product. C. gross national product. D. gross private domestic investment.
Diversification in one's investments reduces:
A. Idiosyncratic risk B. Pooling risk C. Systemic risk D. Time preference risk
The ________ curve shows a(n) ________ relationship between the real wage and the number of workers who are willing to work
A) labor demand; direct B) labor demand; positive C) labor supply; inverse D) labor supply; positive
The neoclassical growth model argues that the only way to increase growth in the long-run is
a. increase savings rates. b. reduce depreciation rates. c. reduce population growth. d. increase technology growth.