The study of factors that contribute to the economic development of a country is
A) development economics. B) the theory of technological advancements.
C) population growth economics. D) the new technology theory.
A
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In an eight-hour day, Andy can produce either 24 loaves of bread or 8 pounds of butter. In an eight-hour day, Bob can produce either 8 loaves of bread or 8 pounds of butter. Andy has a comparative advantage in the production of
A) bread, while Bob has a comparative advantage in the production of butter. B) butter, while Bob has a comparative advantage in the production of bread. C) bread and neither has a comparative advantage in the production of butter. D) both bread and butter.
Tastes are assumed to be identical across countries to rule out differences in demand determining the direction of trade
Indicate whether the statement is true or false
If the marginal propensity to consume is 0.5, the income tax rate is 10%, and income rises by $20,000 . by how much will consumption spending increase?
a. $15,000 b. $10,000 c. $5,000 d. $9,000 e. $1,000
Discuss what experience concerning required reserves occurred during the Great Depression that contributes to the decision today not to use required reserves as an active tool of monetary policy.
What will be an ideal response?