When savings ratios in the United States are above 5 percent, the economy grows at a rate of less than 3 percent
Indicate whether the statement is true or false
F
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The cultural hypothesis of economic growth claims that:
A) most of the ancient cultures of the world have almost been forgotten post-globalization. B) different values and cultural beliefs cause differences in prosperity around the world. C) a common global culture is automatically created through liberal trade practices. D) values and cultural beliefs are proximate causes for differences in prosperity around the world.
Assume First Central Bank has a desired reserve ratio of 15 percent; $80,000 in total deposits, loans equal to $60,000, and has $20,000 in actual reserves. First Central can make additional loans totaling
A) $8,000. B) $12,000. C) $20,000. D) $60,000. E) $80,000.
Foreign direct investment declined worldwide during the recession of 2007-2009
The decline in foreign direct investment in developing countries can make it more difficult for these countries to break out of the vicious cycle of low economic growth and A) overpopulation. B) low saving and investment. C) low government spending. D) a low import/export ratio.
According to some economists, firms in some industries gain a performance advantage by: a. dumping
b. charging a zero price for products. c. clustering. d. reducing R&D spending. e. increasing labor wage.