Countries on the cutting edge grow primarily through:
A) adoption of simple ideas.
B) capital accumulation.
C) idea generation.
D) massive improvement of productivity.
Ans: C) idea generation.
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Explain why the availability of resources affects the elasticity of supply
What will be an ideal response?
By definition, a progressive tax:
A. Generates greater tax revenues from the poor. B. Imposes a higher tax rate as income increases. C. Imposes a lower tax rate as income increases. D. Implies that the same tax rate is paid at all income levels.
For a country with a fixed exchange rate, a monetary shock will have a smaller impact on the domestic economy than will a comparable domestic spending shock.
Answer the following statement true (T) or false (F)
America Online's cost of delivering Internet access to each additional user has fallen over time because:
A. Of constant returns to scale B. Of minimum efficient scale C. Of economies of scale D. It is a natural monopoly