The adaption of new technology in low-income countries can be difficult if:
a. they lack appropriate supportive economic institutions.
b. their natural rates of unemployment are more than 5 percent
c. their GDP gaps is large.
d. they experience hyperinflation for a considerable period of time.
a
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An attempt by a firm to create a monopoly and gain the economic profit from the monopoly is called
A) collusion. B) intrusion. C) profit seeking. D) rent seeking.
Money market mutual funds sell shares to investors and use the money to buy
A) overseas assets through foreign direct investment. B) short-term securities. C) foreign currency. D) mortgage-backed securities.
Which of the following is a possible advantage of a free market condition? a. In a free market, consumers are offered discounts on the purchase of products
b. In a free market, all goods and services are offered for free to households below the poverty line. c. In a free market, continuous government intervention helps keep the price of products under control. d. In a free market, competition among sellers helps the consumers purchase a product at the lowest possible price. e. In a free market, consumers have limited products to choose from, thereby assuring less confusion and better quality.
In a fractional-reserve banking system the reserve/deposit ratio equals:
A. less than 100 percent. B. 100 percent. C. currency held by the public divided by deposits. D. more than 100 percent.