The recent growth records of Japan and Hong Kong during the last fifty years indicate that a nation can grow rapidly without which of the following?
What will be an ideal response?
Abundant domestic natural resources.
You might also like to view...
If the required reserve ratio is 10% and the Fed purchases $20 million worth of securities, what is the simple deposit multiplier and what happens to the amount of deposits in the banking system? Assume that banks do not hold excess reserves and the
public does not change its currency holdings.
Distinguish between craft unions and industrial unions
What will be an ideal response?
Suppose an increase in investment spending results in an increase in equilibrium real GDP and a rise in the equilibrium price level. This implies that the aggregate supply curve for this economy is vertical
a. True b. False Indicate whether the statement is true or false
A recent study shows that between 2010 and 2015, the consumption of smart television sets has increased dramatically in the city of Maricary. If the consumer price index does not capture changes in the prices of these consumption goods, it will fail to reflect the actual purchases of an average consumer in this city because of the: a. quantity bias
b. quality bias. c. new goods bias. d. substitution bias.