Which of the following is most important if a country is going to achieve and sustain rapid economic growth?
What will be an ideal response?
An open and competitive capital market
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If a firm uses only capital and labor as inputs, then what should the firm do at a given rate of production if the marginal physical product of labor per last dollar spent is lower than the marginal physical product of capital per last dollar spent
A) The firm should increase both the quantity of capital and the quantity of labor. B) The firm should decrease both the quantity of capital and the quantity of labor. C) The firm should increase the quantity of capital and reduce the quantity of labor. D) The firm should decrease the quantity of capital and increase the quantity of labor.
You own shares in a start-up internet company. If the company announces that it will not pay dividends next year as it has in the past, then the price of your shares will ________, holding other factors constant.
A. decrease B. not change C. either increase or decrease D. increase
Suppose an acre of land yields 100 bushels of corn and that one bushel of corn provides enough seed for one-quarter of an acre of land. The opportunity cost of consuming another 100 bushels of corn today is
A) 100 bushels of corn next year. B) 25 bushels of corn next year. C) 10 bushels of corn next year. D) 2.5 bushels of corn next year.
Microfinance is the practice of lending ________, with no collateral, and accepting ________ savings deposits.
A. foreign currency; foreign currency as B. very small amounts of money; small C. money electronically; electronic D. government-backed funds; government securities as