According to this Application, other economists disagree with Professor Gordon and suggest that the ________ will help to increase future growth
A) global interconnectedness B) the Internet
C) computer technology D) all of the above
D
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The Bretton Woods system was established in 1944 and remained in place until the early 1970s
Indicate whether the statement is true or false
Legal entitlement to scientific discoveries, inventions, innovations and intellectual property
A) reduces the incentive to invest in research and development. B) results in an equal distribution of income and profits. C) encourages technological advancements. D) protects production on the basis of tradition, social customs and habits.
Which of the following is true of foreign exchange markets?
A. Most foreign exchange trading involves the exchange of U.S. dollars for other currencies. B. Individuals' exchanges of currencies comprise the largest portion of overall foreign exchange trading. C. The laws of demand and supply are not applicable in a foreign exchange market. D. The foreign exchange market is a single gathering place where traders shout buy-and-sell orders at each other.
Refer to the graph shown. If the price were somehow held at $8.15 per unit, consumer surplus would then equal:
A. 1,171.5. B. 600. C. 423.5. D. 1,400.